# Special Situations Digest

> Weekly global event-driven and special-situations investment research published every Sunday by Clark Square Capital. Covers activist campaigns, announced acquisitions, going-private buyouts, tender offers (including odd-lot priority tenders), spin-offs, corporate divestitures, strategic reviews, capital returns, rights offerings, SPACs, restructurings, and insolvencies across 60+ countries (16,000+ cataloged situations across 39 weekly issues; ~700 situations per week). Last updated: November 7, 2026 (through Digest #39).

## Primary Pages & Research Tools

- [Home](https://specialsitsdigest.com/): Overview, live coverage preview, and free weekly Sunday email signup.
- [Weekly Digests Archive](https://specialsitsdigest.com/digests/): Complete archive of all 39 weekly issues (each covering 400 to 900+ situations across 25+ markets) plus weekly Deal Spread Monitors.
- [Situations Database](https://specialsitsdigest.com/situations-database/): Searchable, filterable database of 16,000+ global special situations with market-cap/EV filters, country filters, and one-click Excel (.xlsx) export. Deep-link any ticker via `https://specialsitsdigest.com/situations-database/?q=<TICKER>`.
- [Live Filing Feed](https://specialsitsdigest.com/live-feed/): Real-time US SEC EDGAR, Canadian SEDAR+, OTC Markets, press release, and exchange halt scanner for event-driven situations. Deep-link any ticker via `https://specialsitsdigest.com/live-feed/?q=<TICKER>`.
- [Pricing & Pro Trial](https://specialsitsdigest.com/subscribe/): Free Sunday preview tier and Pro membership ($300/year or $35/month, starting with a 14-day free trial).
- [About & Methodology](https://specialsitsdigest.com/about/): Editorial methodology, coverage universe, and publisher details.
- [Extended AI / LLM Situation Index](https://specialsitsdigest.com/assets/llms-full.txt): Comprehensive markdown index of tracked companies, tickers, and catalysts across the Special Situations Digest corpus.

## Category Trackers (Updated Weekly)

- [All Categories Directory](https://specialsitsdigest.com/categories/): Overview of all 10 special-situation categories.
- [Activist Campaigns Tracker](https://specialsitsdigest.com/activist-campaigns/): Running index of global activist campaigns with deal terms, multiples, and filing links.
- [Acquisitions Tracker](https://specialsitsdigest.com/acquisitions/): Running index of global acquisitions with deal terms, multiples, and filing links.
- [Strategic Reviews Tracker](https://specialsitsdigest.com/strategic-reviews/): Running index of global strategic reviews with deal terms, multiples, and filing links.
- [Divestitures Tracker](https://specialsitsdigest.com/divestitures/): Running index of global divestitures with deal terms, multiples, and filing links.
- [Tender Offers Tracker](https://specialsitsdigest.com/tender-offers/): Running index of global tender offers with deal terms, multiples, and filing links.
- [Going-Private Tracker](https://specialsitsdigest.com/going-private/): Running index of global going-private with deal terms, multiples, and filing links.
- [Spin-Offs Tracker](https://specialsitsdigest.com/spinoffs/): Running index of global spin-offs with deal terms, multiples, and filing links.
- [Capital Returns Tracker](https://specialsitsdigest.com/capital-returns/): Running index of global capital returns with deal terms, multiples, and filing links.
- [Rights Offerings Tracker](https://specialsitsdigest.com/rights-offerings/): Running index of global rights offerings with deal terms, multiples, and filing links.
- [SPACs Tracker](https://specialsitsdigest.com/spacs/): Running index of global spacs with deal terms, multiples, and filing links.
- [Odd-Lot Tender Offers Guide & Active Tracker](https://specialsitsdigest.com/odd-lot-tender-offers/): Explainer on odd-lot priority (<100 shares) mechanics, arbitrage risks, and currently open tender offers sorted by expiration date.

## Country & Regional Trackers (Updated Weekly)

- [All Markets Directory](https://specialsitsdigest.com/markets/): Country-by-country breakdown of global special situations.
- [Japan Special Situations](https://specialsitsdigest.com/japan/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in Japan.
- [South Korea Special Situations](https://specialsitsdigest.com/korea/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in South Korea.
- [China Special Situations](https://specialsitsdigest.com/china/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in China.
- [Hong Kong Special Situations](https://specialsitsdigest.com/hong-kong/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in Hong Kong.
- [India Special Situations](https://specialsitsdigest.com/india/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in India.
- [Australia Special Situations](https://specialsitsdigest.com/australia/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in Australia.
- [United Kingdom Special Situations](https://specialsitsdigest.com/uk/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in United Kingdom.
- [Canada Special Situations](https://specialsitsdigest.com/canada/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in Canada.
- [Sweden Special Situations](https://specialsitsdigest.com/sweden/): Recent activist campaigns, take-privates, tender offers, spin-offs, and M&A in Sweden.
- [Japan Activist Campaigns Tracker](https://specialsitsdigest.com/japan-activist-campaigns/): Every Japanese company targeted by activist shareholders (Oasis, Elliott, 3D Investment Partners, Effissimo, Dalton, Strategic Capital, Murakami/City Index Eleventh, Hibiki Path, NAVF, ValueAct), grouped by target company.

## Published Weekly Issues (#1 to #39)

- [Special Situations Digest #39](https://specialsitsdigest.com/special-situations-digest-39/) (Nov 1, 2026 · 700 situations) · Notable situations: Space Exploration Technologies (SPCX, US), Tesla, Inc. (TSLA, US), Samsung Electronics (005930.KS, KR), SK hynix (000660.KS, KR), Johnson & Johnson (JNJ, US)
- [Special Situations Digest #38](https://specialsitsdigest.com/special-situations-digest-38/) (Oct 25, 2026 · 622 situations) · Notable situations: Meta Platforms, Inc. (META, US), Tesla (TSLA, US), Johnson & Johnson (JNJ, US), Abbott Laboratories (ABT, US), Reliance Industries Limited (RELIANCE.NS, IN)
- [Special Situations Digest #37](https://specialsitsdigest.com/special-situations-digest-37/) (Oct 18, 2026 · 709 situations) · Notable situations: Samsung Electronics (005930.KS, KR), Johnson & Johnson (JNJ, US), Qualcomm (QCOM, US), Reliance Industries Ltd. (RELIANCE.NS, IN), Schneider Electric SE (SU.PA, FR)
- [Special Situations Digest #36](https://specialsitsdigest.com/special-situations-digest-36/) (Oct 11, 2026 · 902 situations) · Notable situations: Space Exploration Technologies Corp. (SPCX, US), SK hynix (SKHY, US), L'Oreal (OR.PA, FR), SoftBank Group Corp. (9984.T, JP), PepsiCo (PEP, US)
- [Special Situations Digest #35](https://specialsitsdigest.com/special-situations-digest-35/) (Oct 4, 2026 · 795 situations) · Notable situations: Saudi Arabian Oil Company (2222.SR, SA), Advanced Micro Devices (AMD, US), SK Hynix (000660.KS, KR), ExxonMobil (XOM, US), Shell plc (SHEL.L, UK)
- [Special Situations Digest #34](https://specialsitsdigest.com/special-situations-digest-34/) (Sep 27, 2026 · 763 situations) · Notable situations: Microsoft Corp (MSFT, US), Nestlé (NESN.SW, CH), SoftBank Group Corp. (9984.T, JP), PepsiCo (PEP, US), Airbus (AIR.PA, FR)
- [Special Situations Digest #33](https://specialsitsdigest.com/special-situations-digest-33/) (Sep 20, 2026 · 811 situations) · Notable situations: Apple Inc. (AAPL, US), Intel Corporation (INTC, US), Dell Technologies Inc. (DELL, US), Shell plc (SHEL.L, UK), Nestlé (NESN.SW, CH)
- [Special Situations Digest #32](https://specialsitsdigest.com/special-situations-digest-32/) (Sep 14, 2026 · 638 situations) · Notable situations: Microsoft (MSFT, US), Johnson & Johnson (JNJ, US), Tencent Holdings (0700.HK, HK), Novartis AG (NOVN.SW, CH), L'Oreal SA (OR.PA, FR)
- [Special Situations Digest #31](https://specialsitsdigest.com/special-situations-digest-31/) (Sep 6, 2026 · 379 situations) · Notable situations: Siemens AG (SIE.DE, DE), SoftBank Group Corp. (9984.T, JP), Reliance Industries Ltd (RELIANCE.NS, IN), Deutsche Telekom (DTE.DE, DE), Siemens Energy (ENR.DE, DE)
- [Special Situations Digest #30](https://specialsitsdigest.com/special-situations-digest-30/) (Aug 30, 2026 · 549 situations) · Notable situations: Meta Platforms, Inc. (META, US), Samsung Electronics Co., Ltd. (005930.KS, KR), Alibaba Group Holding (BABA, US), Siemens Energy AG (ENR.DE, DE), Siemens Energy (ENR.DE, DE)
- [Special Situations Digest #29](https://specialsitsdigest.com/special-situations-digest-29/) (Aug 23, 2026 · 608 situations) · Notable situations: Meta Platforms (META, US), Samsung Electronics (005930.KS, KR), Berkshire Hathaway (BRK-A, US), Nestle S.A. (NESN.SW, CH), Siemens AG (SIE.DE, DE)
- [Special Situations Digest #28](https://specialsitsdigest.com/special-situations-digest-28/) (Aug 16, 2026 · 712 situations) · Notable situations: Apple Inc. (AAPL, US), Taiwan Semiconductor Manufacturing Company (TSM, US), Meta Platforms (META, US), SK hynix (000660.KS, KR), HSBC Holdings PLC (HSBA.L, US)
- [Special Situations Digest #27](https://specialsitsdigest.com/special-situations-digest-27/) (Aug 9, 2026 · 643 situations) · Notable situations: Meta Platforms, Inc. (META, US), Tesla, Inc. (TSLA, US), Berkshire Hathaway Inc. (BRK.A, US), SK Hynix (000660.KS, KR), HSBC Holdings plc (HSBA.L, GB)
- [Special Situations Digest #26](https://specialsitsdigest.com/special-situations-digest-26/) (Aug 2, 2026 · 608 situations) · Notable situations: Meta Platforms (META, US), Johnson & Johnson (JNJ, US), HSBC Holdings plc (HSBC, UK), AstraZeneca PLC (AZN, US), American Express Company (AXP, US)
- [Special Situations Digest #25](https://specialsitsdigest.com/special-situations-digest-25/) (Jul 27, 2026 · 531 situations) · Notable situations: HSBC Holdings Plc (HSBA.L, UK), Contemporary Amperex Technology Co., Limited (300750.SZ, CN), Verizon Communications (VZ, US), Boeing (BA, US), Rio Tinto (RIO.L, UK)
- [Special Situations Digest #24](https://specialsitsdigest.com/special-situations-digest-24/) (Jul 19, 2026 · 319 situations) · Notable situations: Morgan Stanley (MS, US), BP p.l.c. (BP.L, UK), Prosus NV (PRX.AS, NL), Warner Bros Discovery (WBD, US), PayPal Holdings (PYPL, US)
- [Special Situations Digest #23](https://specialsitsdigest.com/special-situations-digest-23/) (Jul 12, 2026 · 478 situations) · Notable situations: Netflix (NFLX, US), Shell plc (SHEL.L, GB), PepsiCo (PEP, US), Union Pacific (UNP, US), Unilever (ULVR.L, GB)
- [Special Situations Digest #22](https://specialsitsdigest.com/special-situations-digest-22/) (Jul 5, 2026 · 473 situations) · Notable situations: PepsiCo (PEP, US), Reliance Industries Limited (RELIANCE.NS, IN), Safran (SAF.PA, FR), Siemens Energy (ENR.DE, DE), Comcast (CMCSA, US)
- [Special Situations Digest #21](https://specialsitsdigest.com/special-situations-digest-21/) (Jun 28, 2026 · 569 situations) · Notable situations: Apple Inc. (AAPL, US), SK hynix (000660.KS, KR), Reliance Industries Limited (RELIANCE.NS, IN), Siemens Energy AG (ENR.DE, DE), Honeywell International (HON, US)
- [Special Situations Digest #20](https://specialsitsdigest.com/special-situations-digest-20/) (Jun 21, 2026 · 500 situations) · Notable situations: Reliance Industries Limited (RELIANCE.NS, IN), NextEra Energy (NEE, US), Siemens Energy AG (ENR.DE, DE), Honeywell International Inc. (HON, US), Honeywell Aerospace Inc. (HONA, US)
- [Special Situations Digest #19](https://specialsitsdigest.com/special-situations-digest-19/) (Jun 14, 2026 · 366 situations) · Notable situations: Eaton Corporation plc (ETN, IE), Honeywell International Inc. (HON, US), Ciena Corporation (CIEN, US), Warner Bros. Discovery, Inc. (WBD, US), Sempra (SRE, US)
- [Special Situations Digest #18](https://specialsitsdigest.com/special-situations-digest-18/) (Jun 7, 2026 · 439 situations) · Notable situations: Alphabet Inc. (GOOG, US), Coca-Cola Co (KO, US), SoftBank Group Corp. (9984.T, JP), Jollibee Foods Corporation (JBFCF, US), Honeywell International Inc. (HON, US)
- [Special Situations Digest #17](https://specialsitsdigest.com/special-situations-digest-17/) (May 31, 2026 · 311 situations) · Notable situations: NextEra Energy, Inc. (NEE, US), S&P Global Inc. (SPGI, US), FedEx Corp (FDX, US), Synopsys, Inc. (SNPS, US), Sempra (SRE, US)
- [Special Situations Digest #16](https://specialsitsdigest.com/special-situations-digest-16/) (May 24, 2026 · 262 situations) · Notable situations: Union Pacific (UNP, US), S&P Global Inc. (SPGI, US), FedEx Corporation (FDX, US), Boston Scientific Corporation (BSX, US), Shin-Etsu Chemical Co., Ltd. (4063.T, JP)
- [Special Situations Digest #15](https://specialsitsdigest.com/special-situations-digest-15/) (May 17, 2026 · 539 situations) · Notable situations: Atlantic Lithium Limited (A11.AX, AU), Taiwan Semiconductor Manufacturing Co. (TSM, US), Toyota Motor Corporation (7203.T, JP), Marvell Technology, Inc. (MRVL, US), Vertiv Holdings Co (VRT, US)
- [Special Situations Digest #14](https://specialsitsdigest.com/special-situations-digest-14/) (May 10, 2026 · 149 situations) · Notable situations: UniCredit S.p.A. (UCG.MI, IT), Flex Ltd. (FLEX, US), Bayer AG (BAYN.DE, DE), Crown Castle Inc. (CCI, US), Leonardo S.p.A. (LDO.MI, IT)
- [Special Situations Digest #13](https://specialsitsdigest.com/special-situations-digest-13/) (May 3, 2026 · 161 situations) · Notable situations: Alibaba Group Holding Limited (BABA, US), Toyota Motor Corp. (7203.T, JP), Grupo México, S.A.B. de C.V. (GMEXICOB.MX, MX), Robinsons Retail Holdings, Inc. (RRHI.PS, US), Toyota Tsusho Corporation (8015.T, JP)
- [Special Situations Digest #12](https://specialsitsdigest.com/special-situations-digest-12/) (Apr 26, 2026 · 150 situations) · Notable situations: Ericsson (ERIC, US), HSBC Holdings plc (HSBA.L, UK), Hitachi, Ltd. (6501.T, JP), Welltower Inc. (WELL, US), Honeywell International Inc. (HON, US)
- [Special Situations Digest #11](https://specialsitsdigest.com/special-situations-digest-11/) (Apr 19, 2026 · 145 situations) · Notable situations: FedEx Corporation (FDX, US), Baker Hughes Company (BKR, US), Corteva Inc. (CTVA, US), Daikin Industries Ltd. (6367.T, JP), Kongsberg Gruppen ASA (KOG.OL, NO)
- [Special Situations Digest #10](https://specialsitsdigest.com/special-situations-digest-10/) (Apr 12, 2026 · 151 situations) · Notable situations: China Merchants Bank Co., Ltd. (3968.HK, HK), ZIJIN MINING (2899.HK, HK), UniCredit S.p.A. (UCG.MI, IT), BASF SE (BAS.DE, DE), Barrick Gold Corporation (GOLD, US)
- [Special Situations Digest #9](https://specialsitsdigest.com/special-situations-digest-9/) (Apr 6, 2026 · 255 situations) · Notable situations: Vivos Therapeutics, Inc. (VVOS, US), Medipharm Labs Corp (LABS.TO, CA), Phunware, Inc. (PHUN, US), Kezar Life Sciences, Inc. (KZR, US), PhenixFIN Corp (PFX, US)
- [Special Situations Digest #8](https://specialsitsdigest.com/special-situations-digest-8/) (Mar 29, 2026 · 121 situations) · Notable situations: Mastercard Inc (MA, US), SAP SE (SAP, US), Honeywell International Inc. (HON, US), Unilever PLC (UL, US), FedEx Corporation (FDX, US)
- [Special Situations Digest #7](https://specialsitsdigest.com/special-situations-digest-7/) (Mar 22, 2026 · 85 situations) · Notable situations: Honeywell — Aerospace Spin-Off (HON, US), Medtronic — Diabetes Spinoff (MDT, US), Constellation Energy — DOJ-Required Divestiture (CEG, US), FedEx Corporation (FDX, US), FMC Corporation (GAM.PA)
- [Special Situations Digest #6](https://specialsitsdigest.com/special-situations-digest-6/) (Mar 15, 2026 · 139 situations) · Notable situations: Meta Platforms Inc. (META, US), Samsung Electronics (005930.KS, KR), Intel Corporation (INTC, US), Honeywell International Inc. (HON, US), SoftBank Group Corp (9984.T, JP)
- [Special Situations Digest #5](https://specialsitsdigest.com/special-situations-digest-5/) (Mar 8, 2026 · 205 situations) · Notable situations: Nvidia Corporation (NVDA, US), Accenture (ACN, US), Sony Group Corporation (6758.T, JP), Dell Technologies (DELL, US), Paramount Skydance / Warner Bros. Discovery
- [Special Situations Digest #4](https://specialsitsdigest.com/special-situations-digest-4/) (Mar 1, 2026 · 214 situations) · Notable situations: Alphabet Inc. (GOOGL, US), Advanced Micro Devices (AMD, US), Novartis AG (NOVN.SW, SW), Toyota Motor Corporation (7203.T, JP), Merck & Co (MRK, US)
- [Special Situations Digest #3](https://specialsitsdigest.com/special-situations-digest-3/) (Feb 22, 2026 · 197 situations) · Notable situations: Visa Inc (V, US), Johnson & Johnson (JNJ, US), HSBC Holdings plc (HSBA.L, UK), Nestlé S.A. (NESN.SW, SW), Citigroup Inc. (C, US)
- [Special Situations Digest #2](https://specialsitsdigest.com/special-situations-digest-2/) (Feb 15, 2026 · 281 situations) · Notable situations: Multiple Tech Companies, Meta Platforms (META, US), Eli Lilly and Company (LLY, US), Tencent Holdings (Riot Games subsidiary) (0700.HK, HK), Costco Wholesale (COST, US)
- [Special Situations Digest #1](https://specialsitsdigest.com/special-situations-digest-1/) (Feb 8, 2026 · 385 situations) · Notable situations: Amazon.com Inc (AMZN, US), Tesla Inc (TSLA, US), Mastercard (MA, US), Oracle Corporation (ORCL, US), SK Hynix (000660.KS, KR)

## Japan Activist Shareholders & Target Companies ([Full Tracker](https://specialsitsdigest.com/japan-activist-campaigns/))

- **Oasis Management** (49 Japanese target companies tracked): AEON Financial Service Co., Ltd. (8570.T), Aeon Financial Service Co., Ltd. (8570.T), Ain Holdings Inc. (9627.T), Air Water Inc. (4088.T), Calbee, Inc. (2229.T), Casio Computer Co., Ltd. (6952.T), Comsys Holdings Corporation (1721.T), DIC Corporation (4631.T)
- **Dalton Investments** (26 Japanese target companies tracked): Asuka Pharmaceutical Holdings Co., Ltd. (4886.T), Bunka Shutter Co., Ltd. (5930.T), Ebara Jitsugyo Co., Ltd. (6328.T), Eiken Chemical Co., Ltd. (4549.T), Ezaki Glico Co., Ltd. (2206.T), Fuji Kyuko Co., Ltd. (9010.T), Fuji Media Holdings (4676.T), Hogi Medical (3593.T)
- **Murakami group (City Index Eleventh)** (24 Japanese target companies tracked): AD Works Group Co., Ltd. (2982.T), Air Water Inc. (4088.T), DeNA Co., Ltd. (2432.T), EXEDY Corp. (7278.T), Fuji Media Holdings (4676.T), Keikyu Corporation (9006.T), MURAKAMI Corporation (7292.T), Metalart Corp. (5644.T)
- **Strategic Capital** (21 Japanese target companies tracked): A&D HOLON Holdings Co., Ltd. (7745.T), A&D HOLON Holdings Company Limited (7745.T), A&D Holon Holdings Co., Ltd. (7745.T), GOLDCREST Co., Ltd. (8871.T), Goldcrest Co., Ltd. (8871.T), GungHo Online Entertainment (3765.T), GungHo Online Entertainment, Inc. (3765.T), KH Neochem Co., Ltd. (4189.T)
- **Nippon Active Value Fund** (21 Japanese target companies tracked): Bunka Shutter Co., Ltd. (5930.T), EBARA JITSUGYO CO., LTD. (6328.T), Ebara Jitsugyo Co., Ltd. (6328.T), Eiken Chemical Co., Ltd. (4549.T), Fuji Kyuko Co., Ltd. (9010.T), INTAGE Holdings Co., Ltd. (4326.T), Intage Holdings Inc. (4326.T), MURAKAMI Corporation (7292.T)
- **Silchester International** (21 Japanese target companies tracked): Alfresa Holdings Corporation (2784.T), Daicel Corporation (4202.T), Dowa Holdings Co., Ltd. (5714.T), Hakuhodo DY Holdings Inc. (2433.T), Kansai Paint Co., Ltd. (4613.T), Kyoto Financial Group, Inc. (5844.T), MEDIPAL HOLDINGS CORPORATION (7459.T), MIURA Co., Ltd. (6005.T)
- **Asset Value Investors** (19 Japanese target companies tracked): AIGAN Co., Ltd. (9854.T), Aigan Co., Ltd. (9854.T), Aoyama Zaisan Networks Co., Ltd. (8929.T), Aoyama Zaisan Networks Company Limited (8929.T), Asiro Inc. (7378.T), DTS Corporation (9682.T), Foster Electric Co., Ltd. (6794.T), Foster Electric Company Limited (6794.T)
- **Effissimo Capital** (10 Japanese target companies tracked): Fujibo Holdings, Inc. (3104.T), Fujibo Holdings,Inc. (3104.T), Kanto Denka Kogyo Co., Ltd. (4047.T), Kawasaki Kisen Kaisha, Ltd. (9107.T), Sanken Electric Co., Ltd. (6707.T), Soft99 Corporation (4464.T), Taiheiyokogyo Co Ltd (5970.T), Tamron Co., Ltd. (7740.T)
- **3D Investment Partners** (8 Japanese target companies tracked): Casio Computer Co., Ltd. (6952.T), J. Front Retailing Co., Ltd. (3086.T), J.FRONT RETAILING Co., Ltd. (3086.T), J.Front Retailing Co., Ltd. (3086.T), NS Solutions Corporation (2327.T), Seibu Holdings Inc. (9024.T), Toho Holdings (8129.T), Toho Holdings Co., Ltd. (8129.T)
- **Elliott Management** (6 Japanese target companies tracked): Daikin Industries (6367.T), Daikin Industries Ltd. (6367.T), Mitsui O.S.K. Lines (9104.T), Mitsui O.S.K. Lines Ltd. (9104.T), NIPPON EXPRESS HOLDINGS, INC. (9147.T), Toyota Motor Corporation (7203.T)
- **Taiyo Pacific Partners** (4 Japanese target companies tracked): Inspec Inc. (6656.T), T&D Holdings, Inc. (8795.T), Taiyo Bussan Co., Ltd. (9941.T), Taiyo Bussan Kaisha, Ltd. (9941.T)
- **LIM Advisors** (4 Japanese target companies tracked): NPC Incorporated (6255.T), Synchro Food Co., Ltd. (3963.T), Toyo Gosei Co., Ltd. (4970.T), sugimura warehouse Co., Ltd. (9307.T)
- **Palliser Capital** (3 Japanese target companies tracked): Ajinomoto Co., Inc. (2802.T), Keisei Electric Railway (9009.T), TOTO Ltd. (5332.T)
- **Hibiki Path Advisors** (3 Japanese target companies tracked): Fujikura Composite Co., Ltd. (5121.T), Fujikura Composite Inc. (5121.T), Japan Pure Chemical Co., Ltd. (4973.T)
- **ValueAct Capital** (3 Japanese target companies tracked): Money Forward, Inc. (3994.T), Sanwa Holdings Corporation (5929.T), Takara Holdings Inc. (2531.T)

## Extended Situation Index by Category

### Activist Campaigns (https://specialsitsdigest.com/activist-campaigns/)

- **[Fortescue](https://specialsitsdigest.com/special-situations-digest-39/)** (FMG.AX (AU) · MCAP $31.3B · Activist Campaigns · Issue #39): Proxy adviser Glass Lewis recommended that Fortescue shareholders vote against the re-election of Mark Barnaba and Larry Marshall at the October 28, 2026 annual meeting.
- **[DiDi Global Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (DIDIY (US) · MCAP $13.9B · Activist Campaigns · Issue #39): Heng Ren Partners is pushing DiDi Global Inc. (DIDIY) to relist on the Hong Kong Stock Exchange following a shareholder survey showing 99.3% support for the move.
- **[Korea Zinc](https://specialsitsdigest.com/special-situations-digest-39/)** (010130.KS (KR) · MCAP $13.0B · Activist Campaigns · Issue #39): Korea Zinc (010130.KS) accused Young Poong and MBK Partners of distorting an audit committee response to fuel a public opinion campaign amid a hostile control dispute.
- **[Cooper Companies](https://specialsitsdigest.com/special-situations-digest-39/)** (COO (US) · MCAP $11.5B · Activist Campaigns · Issue #39): Albert White has stepped down as president and CEO of Cooper Companies (COO) effective immediately.
- **[Whitbread](https://specialsitsdigest.com/special-situations-digest-39/)** (WTB.L (UK) · MCAP $6.1B · Activist Campaigns · Issue #39): Royal London Asset Management, holding roughly 1.2% of Whitbread, publicly backed management's campaign to resist Corvex's board-seat demand.
- **[Vail Resorts, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (MTN (US) · MCAP $5.4B · Activist Campaigns · Issue #39): Vail Resorts, Inc. (MTN) faces a contested board election at its December 14, 2026 annual meeting, with two separate dissident nominators.
- **[Mattel, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (MAT (US) · MCAP $4.5B · Activist Campaigns · Issue #39): Southeastern Asset Management is mounting a proxy contest at Mattel, Inc. (MAT) to nominate new directors.
- **[Endeavour Group](https://specialsitsdigest.com/special-situations-digest-39/)** (EDV.AX (AU) · MCAP $4.3B · Activist Campaigns · Issue #39): The Mathieson family, the largest shareholder of Endeavour Group (EDV.AX), expressed public dissatisfaction with executive pay and company returns at an October 2026 meeting.
- **[J.FRONT RETAILING Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (3086.T (JP) · MCAP $4.3B · Activist Campaigns · Issue #39): 3D Investment Partners Pte. Ltd. increased its stake in J. Front Retailing (3086.T) to 12.73% from 11.63% (large shareholding report amendment).
- **[Medipal Holdings Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (7459.T (JP) · MCAP $4.2B · Activist Campaigns · Issue #39): The Northern Trust Company AVFC Re: Silchester International Investors International Value Equity Trust filed a petition with the Tokyo District Court to force an extraordinary general…
- **[Santen Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4536.T (JP) · MCAP $3.6B · Activist Campaigns · Issue #39): Silchester International Investors LLP now owns 10.25% of Santen Pharmaceutical Co., Ltd. (4536.T) after increasing its stake from 9.23% (large shareholding report).
- **[Hanmi Pharm Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (128940.KS (KR) · MCAP $3.5B · Activist Campaigns · Issue #39): DXVX sent a shareholder letter on October 23 requesting an independent special audit of Hanmi Pharmaceutical (128940.KS).
- **[Knife River](https://specialsitsdigest.com/special-situations-digest-39/)** (KNF (US) · MCAP $3.3B · Activist Campaigns · Issue #39): Starboard Value is pushing Knife River (KNF) to increase margins or explore a sale.
- **[BankUnited, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (BKU (US) · MCAP $3.0B · Activist Campaigns · Issue #39): HoldCo Opportunities Fund V, L.P. now owns 5.0% of BankUnited, Inc. (BKU) after paying $135.6 million for 3.5 million shares (Schedule 13D).
- **[Group 1 Automotive, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (GPI (US) · MCAP $3.0B · Activist Campaigns · Issue #39): Conifer Management, L.L.C. increased its stake in Group 1 Automotive, Inc. (GPI) to 16.9% after spending $41.6 million on open-market purchases (Schedule 13D amendment).
- **[H.B. Fuller](https://specialsitsdigest.com/special-situations-digest-39/)** (FUL (US) · MCAP $2.7B · Activist Campaigns · Issue #39): Ancora Holdings Group is demanding a comprehensive strategic review of H.B. Fuller (FUL), including a potential sale of the entire company.
- **[Alkami Technology, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (ALKT (US) · MCAP $1.3B · Activist Campaigns · Issue #39): JANA Partners Management, LP reduced its stake in Alkami Technology, Inc. (ALKT) to 4.98% as of October 28, 2026 (Schedule 13D amendment).
- **[UMH Properties, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (UMH (US) · MCAP $1.3B · Activist Campaigns · Issue #39): Erez Asset Management LLC filed additional proxy-solicitation materials concerning UMH Properties, Inc. (UMH) on October 29, 2026.
- **[The Greenbrier Companies, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (GBX (US) · MCAP $1.2B · Activist Campaigns · Issue #39): The Greenbrier Companies, Inc. (GBX) entered a cooperation agreement with Atlas FRM LLC on October 24, 2026, to resolve board composition matters (Form 8-K).
- **[TOSEI Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (8923.T (JP) · MCAP $1.1B · Activist Campaigns · Issue #39): Dalton Investments, Inc. increased its stake in TOSEI Corporation (8923.T) to 7.62% from 6.07% (large shareholding report).
- **[Quanex Building Products Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (NX (US) · MCAP $879M · Activist Campaigns · Issue #39): Teleios Capital Partners GmbH and its affiliates now own 8.78% of Quanex Building Products Corporation (NX) through 4.0 million shares (Schedule 13D amendment).
- **[Adams Natural Resources Fund, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PEO (US) · MCAP $836M · Activist Campaigns · Issue #39): Saba Capital entities and Boaz Weinstein now own 7.26% of Adams Natural Resources Fund (PEO) after paying $44.6 million for 2.1 million shares (Schedule 13D amendment).
- **[Auction Technology Group](https://specialsitsdigest.com/special-situations-digest-39/)** (ATG.L (UK) · MCAP $790M · Activist Campaigns · Issue #39): FitzWalter Capital, ATG's largest shareholder with a 27.2% stake, has proposed the removal of chair Scott Forbes and appointment of current board member Richard Campbell-Breeden in his…
- **[Shibaura Machine Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (6104.T (JP) · MCAP $713M · Activist Campaigns · Issue #39): Oasis Management Company Ltd. increased its stake in Shibaura Machine Co., Ltd. (6104.T) to 12.27% (Japanese large shareholding report).
- **[MURAKAMI Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (7292.T (JP) · MCAP $526M · Activist Campaigns · Issue #39): Nippon Active Value Fund PLC, NAVF Select (Master) Fund LP, and Dalton Investments, Inc. increased their joint stake in MURAKAMI Corporation (7292.T) to 9.12% from 8.10% (amended EDINET…
- **[GOLDCREST Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (8871.T (JP) · MCAP $526M · Activist Campaigns · Issue #39): Strategic Capital Co., Ltd., an activist fund already on the register, owns 16.28% of GOLDCREST Co., Ltd. (8871.T), or 5,825,400 shares, according to its most recent large shareholding…
- **[SOLUM Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (248070.KS (KR) · MCAP $526M · Activist Campaigns · Issue #39): Align Partners Asset Management increased its stake in SOLUM Co., Ltd. (248070.KS) to 23.46% through open-market purchases of 120,928 shares (large shareholding report amendment).
- **[Premium Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (7199.T (JP) · MCAP $517M · Activist Campaigns · Issue #39): Dalton Investments, Inc. (Las Vegas-based investment adviser, CIO James B. Rosenwald III) filed a Japanese large shareholding report on Premium Group Co., Ltd. (securities code 7199, TSE…
- **[Ethan Allen Interiors](https://specialsitsdigest.com/special-situations-digest-39/)** (ETD (US) · MCAP $489M · Activist Campaigns · Issue #39): Doug Bergeron of DGB Investments now owns 5.2% of Ethan Allen Interiors (ETD) and is challenging the board in a proxy contest.
- **[Datasection Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (3905.T (JP) · MCAP $469M · Activist Campaigns · Issue #39): First Plus Financial Holdings Pte. Ltd. reduced its stake in Datasection Inc. (3905.T) from 44.23% to 16.34% (large shareholding report).
- **[CMK Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (6958.T (JP) · MCAP $329M · Activist Campaigns · Issue #39): Fundnote Inc. increased its stake in CMK Corporation (6958.T) to 15.18% from 13.76% (large shareholding report).
- **[Hirakawa Hewtech Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (5821.T (JP) · MCAP $304M · Activist Campaigns · Issue #39): Axium Capital Pte. Ltd. increased its stake in Hirakawa Hewtech Corp. (5821.T) to 10.36% from 9.01% (large shareholding report).
- **[QUICK Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4318.T (JP) · MCAP $293M · Activist Campaigns · Issue #39): Asset Value Investors Limited took a 5.02% stake in QUICK Co., Ltd. (4318.T) through open-market purchases between August 26 and October 20, 2026 (large shareholding report).
- **[BASE, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (4477.T (JP) · MCAP $249M · Activist Campaigns · Issue #39): Hiroyuki Maki and Merco Group Co., Ltd. now jointly own 28.36% of BASE, Inc. (4477.T) following an off-market transfer of 29.9 million shares from Maki to Merco Group at ¥339 (large…
- **[Fujikura Kasei Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4620.T (JP) · MCAP $197M · Activist Campaigns · Issue #39): A group of seven filers led by DOE 5 Percent Co., Ltd. now owns 11.7% of Fujikura Kasei (4620.T) (large shareholding report).
- **[STIC Investments, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (026890.KS (KR) · MCAP $194M · Activist Campaigns · Issue #39): Align Partners Asset Management's group now owns 3,242,973 shares of STIC Investments, Inc. (026890.KS), or 8.36%, up from 3,180,499 shares and 7.63%.
- **[TON Strategy Company](https://specialsitsdigest.com/special-situations-digest-39/)** (TONX (US) · MCAP $163M · Activist Campaigns · Issue #39): Manuel Stotz, Kingsway Capital Partners Limited and affiliated funds beneficially own 12,091,720 shares of TON Strategy Company (TONX), or 21.96% (Schedule 13D/A).
- **[RenetJapanGroup, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (3556.T (JP) · MCAP $94M · Activist Campaigns · Issue #39): Founder Takeshi Kuroda and TK Corporation LLC now own 40.52% of RenetJapanGroup (3556.T), down from 41.07% (large shareholding report amendment).
- **[Braemar Hotels & Resorts Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (BHR (US) · MCAP $92M · Activist Campaigns · Issue #39): Brancous, LP1 is seeking to install a majority of the board at Braemar Hotels & Resorts Inc. (BHR) by nominating five directors for the December 21, 2026 annual meeting (preliminary proxy…
- **[Capstone Energy+, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (MCAP $86M · Activist Campaigns · Issue #39): Monarch Alternative Capital group now owns 39.8% of Capstone Energy+ (CEPL) and has secured two board seats (Schedule 13D amendment).
- **[Empery Digital Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (EMPD (US) · MCAP $77M · Activist Campaigns · Issue #39): The Delaware Chancery Court ruled on October 26, 2026, that Empery Digital Inc. (EMPD) must provide ATG Capital Opportunities Fund LP five business days' notice before taking certain major…
- **[XCF Global, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SAFX (US) · MCAP $65M · Activist Campaigns · Issue #39): Majique Ladnier and EEME Energy SPV I, LLC now own 45.3% of XCF Global, Inc. (SAFX) and are pushing for a $200 million recapitalization (Schedule 13D/A).
- **[Comvita](https://specialsitsdigest.com/special-situations-digest-39/)** (CVT.NZ (NZ) · MCAP $58M · Activist Campaigns · Issue #39): At Comvita's October 28, 2026 annual meeting, shareholders removed directors Robert Major and Gregor Barclay, with 70.38% and 65.62% voting in favor of removal, respectively.
- **[Sunny Electronics Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (004770.KS (KR) · MCAP $41M · Activist Campaigns · Issue #39): KX Innovation Co., Ltd. is soliciting proxies to seat four directors and one auditor at Sunny Electronics (004770.KS) to secure a voting quorum.
- **[Anson Resources Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ASN.AX (AU) · MCAP $41M · Activist Campaigns · Issue #39): Anson Resources Limited (ASN.AX) is facing a contested director election after shareholder Craig Graham, who held less than 0.5% of the company's shares as of October 5, 2026, nominated…
- **[SEOUL FOOD IND Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (004410.KS (KR) · MCAP $38M · Activist Campaigns · Issue #39): Jung Phil Moon and five related parties increased their stake in SEOUL FOOD IND Co., Ltd. (004410.KS) to 14.37% to influence management rights (large shareholding report).
- **[Brera Holdings PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (SLMT (US) · MCAP $37M · Activist Campaigns · Issue #39): RBCH Ltd. is pushing for board reform and the rescission of an insider share issuance at Brera Holdings PLC (SLMT) after taking a stake of more than 10%.
- **[Kyogoku unyu shoji Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (9073.T (JP) · MCAP $24M · Activist Campaigns · Issue #39): Green Eight Co., Ltd. took a 5.83% stake in Kyogoku unyu shoji Co., Ltd. (9073.T) to push for asset restructuring and business collaboration (large shareholding report).
- **[Nano-X Imaging Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (NNOX (US) · MCAP $21M · Activist Campaigns · Issue #39): Moshe Moalem now owns 8.49% of Nano-X Imaging Ltd. (NNOX) and is opposing a proposal to increase authorized share capital (Schedule 13D).
- **[Taiyo Bussan Kaisha, Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (9941.T (JP) · MCAP $14M · Activist Campaigns · Issue #39): Masanori Kino and X Mobile Co., Ltd. now own 32.08% of Taiyo Bussan Kaisha, Ltd. (9941.T), down from 32.41% (large shareholding report).
- **[SenesTech, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SNES (US) · MCAP $5M · Activist Campaigns · Issue #39): Justin LeBeau took a 5.4% stake in SenesTech, Inc. (SNES) to push for expense reductions and an end to dilutive equity offerings (Schedule 13D).
- **[SK Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (034730.KS (KR) · MCAP $17.6B · Activist Campaigns · Issue #38): Align Partners disclosed a 1.5% stake in SK Inc. through its fund, holding 1.1 million shares.
- **[Solstice Advanced Materials](https://specialsitsdigest.com/special-situations-digest-38/)** (SOLS (US) · MCAP $10.0B · Activist Campaigns · Issue #38): Starboard Value has reportedly taken a stake in Solstice Advanced Materials (SOLS), making it one of the company's top 10 shareholders.
- **[Voya Financial, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (VOYA (US) · MCAP $8.7B · Activist Campaigns · Issue #38): TOMS Capital Investment Management LP and its affiliates are soliciting proxies for a no-confidence referendum at Voya Financial, Inc. (VOYA).
- **[M3](https://specialsitsdigest.com/special-situations-digest-38/)** (2413.T (JP) · MCAP $8.2B · Activist Campaigns · Issue #38): Oasis Management is pushing M3 (2413.T) to change its dividends, capital policy and directors.
- **[CTS Eventim AG & Co. KGaA](https://specialsitsdigest.com/special-situations-digest-38/)** (EVD.DE (DE) · MCAP $6.9B · Activist Campaigns · Issue #38): Reuters reported on October 20, 2026 that U.S. activist investor Ananym Capital had taken a stake in CTS Eventim (EVD.DE) and called the company significantly undervalued.
- **[Casella Waste Systems](https://specialsitsdigest.com/special-situations-digest-38/)** (CWST (US) · MCAP $6.2B · Activist Campaigns · Issue #38): Jana Partners disclosed an activist stake in Casella Waste Systems (CWST) in October 2026 and presented its case at the 13D Monitor investor summit on October 20.
- **[Vail Resorts](https://specialsitsdigest.com/special-situations-digest-38/)** (MTN (US) · MCAP $5.2B · Activist Campaigns · Issue #38): Hong Kong-based activist Oasis Management holds a 9.6% stake in Vail Resorts and has put forth four board nominees, including former Disney CEO Bob Chapek.
- **[TOSOH Corporation](https://specialsitsdigest.com/special-situations-digest-38/)** (4042.T (JP) · MCAP $5.0B · Activist Campaigns · Issue #38): Silchester International Investors LLP now owns 6.99% of TOSOH Corporation (4042.T), increasing its stake from 5.98% (large shareholding report).
- **[Mattel Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (MAT (US) · MCAP $4.8B · Activist Campaigns · Issue #38): Southeastern Asset Management holds a 4.3% stake in Mattel Inc. and is reportedly preparing a proxy battle to push the company toward exploring a sale.
- **[Takara Holdings Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (2531.T (JP) · MCAP $3.5B · Activist Campaigns · Issue #38): ValueAct Japan Master Fund, L.P. requested an extraordinary general meeting of Takara Holdings Inc. (2531.T) on October 22, 2026 under Companies Act Article 297(1).
- **[Orion](https://specialsitsdigest.com/special-situations-digest-38/)** (271560.KS (KR) · MCAP $3.3B · Activist Campaigns · Issue #38): Flashlight Capital Partners (FCP) launched a public campaign at Orion (271560.KS) with an open letter on October 19, 2026, the day final bids for JoongAng Ilbo closed, demanding that Orion…
- **[Yamada Holdings Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (9831.T (JP) · MCAP $3.1B · Activist Campaigns · Issue #38): City Index Eleventh Co., Ltd., Aya Nomura, M Holdings Co., Ltd. and City Index Fifth Co., Ltd. reported a combined 9.39% stake in Yamada Holdings Co., Ltd. (9831.T), up from 8.36%, in a…
- **[Ionic Digital Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (IOND (US) · MCAP $3.0B · Activist Campaigns · Issue #38): Sachem Head Capital Management LP now owns 9.99% of Ionic Digital Inc. (IOND) and intends to engage the board on governance, capitalization, and strategic plans (Schedule 13D).
- **[Knife River Corp](https://specialsitsdigest.com/special-situations-digest-38/)** (KNF (US) · MCAP $2.9B · Activist Campaigns · Issue #38): Starboard Value announced plans to nominate directors to Knife River Corp's board on October 19, 2026.

### Acquisitions (https://specialsitsdigest.com/acquisitions/)

- **[Airbus SE](https://specialsitsdigest.com/special-situations-digest-39/)** (AIR.PA (FR) · MCAP $170.7B · Acquisitions · Issue #39): Airbus SE (AIR.PA), Thales, and Leonardo are seeking EU antitrust approval for Project Bromo, a space-exploration joint venture intended to rival SpaceX.
- **[Cintas Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (CTAS (US) · MCAP $86.6B · Acquisitions · Issue #39): Cintas Corporation (CTAS) is acquiring UniFirst Corporation, with the transaction awaiting regulatory clearance in the U.S. and Canada.
- **[Lumentum Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (LITE (US) · MCAP $76.2B · Acquisitions · Issue #39): Bloomberg and Reuters report advanced takeover talks between Marvell and Lumentum; no definitive agreement, purchase price, or public confirmation exists.
- **[Aon plc](https://specialsitsdigest.com/special-situations-digest-39/)** (AON (US) · MCAP $67.0B · Acquisitions · Issue #39): On August 30, 2026, Aon plc, Aon North America, Inc. and Cortlandt Acquisition Corp. entered into a Merger Agreement to acquire USI Advantage Corp. for an aggregate estimated purchase price…
- **[EQT Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (EQT (US) · MCAP $35.2B · Acquisitions · Issue #39): EQT Corporation (EQT) entered into an all-stock two-step merger agreement to acquire Range Resources Corporation.
- **[Kone](https://specialsitsdigest.com/special-situations-digest-39/)** (KNEBV.HE (FI) · MCAP $32.6B · Acquisitions · Issue #39): Kone (KNEBV.HE) is preparing to sell businesses in Europe to secure EU antitrust approval for its acquisition of TK Elevator.
- **[American Water Works Company, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (AWK (US) · MCAP $27.8B · Acquisitions · Issue #39): American Water Works Company, Inc. (AWK) is acquiring Essential Utilities, Inc. in a stock-for-stock merger where Essential shareholders receive 0.305 shares of AWK common stock for each…
- **[ENEOS Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (5020.T (JP) · MCAP $24.0B · Acquisitions · Issue #39): On October 23, ENEOS Holdings announced it will acquire the 65% of consolidated subsidiary Roadmap Holdings (RMH) it does not own from a Goldman Sachs-affiliated special purpose company…
- **[Roku](https://specialsitsdigest.com/special-situations-digest-39/)** (ROKU (US) · MCAP $23.1B · Acquisitions · Issue #39): Fox is acquiring Roku (ROKU) for $22 billion, but the deal is now under examination by several state attorneys general, including New York.
- **[Mediobanca](https://specialsitsdigest.com/special-situations-digest-39/)** (MB.MI (IT) · MCAP $23.0B · Acquisitions · Issue #39): Intesa Sanpaolo says it will launch a mandatory offer for the Mediobanca shares not held by MPS or Intesa after completing its offer for MPS.
- **[Brookfield Renewable Partners L.P.](https://specialsitsdigest.com/special-situations-digest-39/)** (BEP-UN.TO (CA) · MCAP $19.6B · Acquisitions · Issue #39): Brookfield Renewable Partners L.P. (BEP-UN.TO) rescheduled its unitholder vote for a corporate simplification plan of arrangement to November 30, 2026, after failing to reach a required…
- **[SK Innovation Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (096770.KS (KR) · MCAP $16.5B · Acquisitions · Issue #39): closes Jan 1, 2027. SK Innovation Co., Ltd. (096770.KS) is absorbing its subsidiary SK ie Technology Co., Ltd. in a stock-for-stock merger at an exchange ratio of 0.1174540 SK Innovation shares for each SK ie…
- **[Segro](https://specialsitsdigest.com/special-situations-digest-39/)** (SGRO.L (UK) · MCAP $16.3B · Acquisitions · Issue #39): Prologis is acquiring SEGRO plc (SGRO.L) in a recommended transaction valued at roughly £14 billion.
- **[Tata Motors Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (544569.BO (IN) · MCAP $15.4B · Acquisitions · Issue #39): Tata Motors Limited (544569.BO), the commercial-vehicle company, completed initial settlement of its EUR 14.40-per-share voluntary tender offer for Italian truckmaker Iveco Group on 30…
- **[mBank](https://specialsitsdigest.com/special-situations-digest-39/)** (MBK.WA (PL) · MCAP $15.3B · Acquisitions · Issue #39): UniCredit may be required to launch a mandatory tender offer for the remaining shares of mBank (MBK.WA) if it acquires a 50% voting stake in Commerzbank.
- **[Maplebear Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (CART (US) · MCAP $13.1B · Acquisitions · Issue #39): Offer $65 per share · premium 26%. DoorDash, Inc. agreed to acquire Maplebear Inc. (CART) for $65 per share in a deal valuing the company at about $17 billion.
- **[Power Finance Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (PFC.NS (IN) · MCAP $11.0B · Acquisitions · Issue #39): Power Finance Corporation (PFC.NS) will absorb REC Ltd in a state-backed absorption merger.
- **[Globalstar](https://specialsitsdigest.com/special-situations-digest-39/)** (GSAT (US) · MCAP $10.9B · Acquisitions · Issue #39): Amazon Leo is acquiring Globalstar (GSAT) for $11.5 billion following FCC approval.
- **[Evonik](https://specialsitsdigest.com/special-situations-digest-39/)** (EVK.DE (DE) · MCAP $10.9B · Acquisitions · Issue #39): Offer €24 · premium 40%. Evonik's (EVK.DE) Executive Board decided not to enter negotiations with BASF after reviewing BASF's October 22 letter expressing interest in a voluntary public takeover offer.
- **[UMB Financial Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (UMBF (US) · MCAP $10.2B · Acquisitions · Issue #39): UMB Financial Corporation (UMBF) agreed to acquire El Dorado Savings Bank, F.S.B. for $506 million in a cash-and-stock deal.
- **[Saipem](https://specialsitsdigest.com/special-situations-digest-39/)** (SPM.MI (IT) · MCAP $9.7B · Acquisitions · Issue #39): Saipem (SPM.MI) is awaiting an appeal ruling next week from Brazilian competition authority CADE regarding its proposed merger with Subsea7.
- **[Orient Securities Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (3958.HK (HK) · MCAP $9.7B · Acquisitions · Issue #39): Orient Securities Company Limited (3958.HK) is acquiring 100% of Shanghai Securities through a combination of cash and the issuance of A shares.
- **[Ambuja Cements](https://specialsitsdigest.com/special-situations-digest-39/)** (AMBUJACEM.NS (IN) · MCAP $9.3B · Acquisitions · Issue #39): Shareholders approved the proposed amalgamations of ACC and Orient Cement with Ambuja Cements, advancing the One Cement Platform initiative.
- **[Jyske Bank A/S](https://specialsitsdigest.com/special-situations-digest-39/)** (JYSK.CO (DK) · MCAP $8.7B · Acquisitions · Issue #39): closes Nov 2, 2026. Jyske Bank A/S (JYSK.CO) received approval to acquire FP Kapital A/S, with the deal expected to close and take effect on November 2, 2026.
- **[ANA Holdings Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (9202.T (JP) · MCAP $7.9B · Acquisitions · Issue #39): ANA Holdings (9202.T) signed a basic agreement to fully acquire RegionalPlus Wings Co., Ltd. through a share exchange.
- **[China Rare Earth](https://specialsitsdigest.com/special-situations-digest-39/)** (000831.SZ (CN) · MCAP $7.6B · Acquisitions · Issue #39): China Rare Earth (000831.SZ) plans to acquire a stake in Zhongxi (Liangshan) Rare Earth Co., Ltd. via a share issuance and matching-funds raise.
- **[Silicon Laboratories Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SLAB (US) · MCAP $7.4B · Acquisitions · Issue #39): Offer $231.00 per share. Texas Instruments Inc. (TXN) is issuing $2 billion of senior unsecured notes to fund part of its approximately $7.5 billion cash acquisition of Silicon Laboratories Inc. (SLAB) at $231.00…
- **[Lottomatica Group S.p.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (LTMC.MI (IT) · MCAP $6.7B · Acquisitions · Issue #39): Lottomatica Group S.p.A. (LTMC.MI) will absorb CIRSA through a cross-border merger in which CIRSA shareholders receive 0.668 newly issued Lottomatica ordinary shares for each CIRSA share.
- **[TXNM Energy, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (TXNM (US) · MCAP $6.5B · Acquisitions · Issue #39): Troy ParentCo, LLC, a Blackstone Infrastructure vehicle, is merging with TXNM Energy, Inc. (TXNM) under an agreement signed May 18, 2025, paying $61.25 per share in cash (about $11.5…
- **[Hera S.p.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (HER.MI (IT) · MCAP $6.0B · Acquisitions · Issue #39): 3i Group is preparing to sell its 25% stake in Herambiente, a waste management subsidiary of Hera S.p.A. (HER.MI).
- **[MarketAxess Holdings Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (MKTX (US) · MCAP $5.8B · Acquisitions · Issue #39): MarketAxess Holdings Inc. (MKTX) shareholders approved a cash merger with Intercontinental Exchange at a special meeting on October 29, 2026.
- **[Huaxin Building Materials Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600801.SS (CN) · MCAP $5.7B · Acquisitions · Issue #39): Huaxin Building Materials (600801.SS) signed an exclusivity agreement with Companhia Siderúrgica Nacional (CSN) on 2026-10-30 to acquire CSN's equity in CSN Cimentos Brasil S.A. The…
- **[NorthWestern Energy](https://specialsitsdigest.com/special-situations-digest-39/)** (NWE (US) · MCAP $4.9B · Acquisitions · Issue #39): The Montana Public Service Commission voted 3-2 to delay its decision on the merger between NorthWestern Energy (NWE) and Black Hills Energy.
- **[Rxo, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (RXO (US) · MCAP $4.6B · Acquisitions · Issue #39): Offer $30.25. C.H. Robinson has a definitive agreement to acquire RXO, Inc. (RXO) under a merger agreement dated October 4, 2026.
- **[Authum Investment & Infrastructure Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (539177.BO (IN) · MCAP $4.5B · Acquisitions · Issue #39): Authum Investment & Infrastructure Limited (539177.BO) and Cosmos Prime Projects Limited received court approval to acquire A A Estates Private Limited.
- **[Indivior Pharmaceuticals, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (INDV (US) · MCAP $4.1B · Acquisitions · Issue #39): Indivior Pharmaceuticals, Inc. (INDV) is acquiring Supernus Pharmaceuticals, Inc. in an all-stock merger where Supernus shareholders receive 1.5401 Indivior shares for each share held.
- **[Athabasca Oil Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (ATH.TO (CA) · MCAP $4.1B · Acquisitions · Issue #39): Offer C$12.00 · premium 14%. Cenovus Energy Inc. agreed to acquire Athabasca Oil Corporation (ATH.TO) for C$12.00 per share in a cash-and-stock plan of arrangement with an implied enterprise value of C$5.7 billion.
- **[The Shiga Bank, Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (8366.T (JP) · MCAP $3.6B · Acquisitions · Issue #39): closes Apr 1, 2028. The Shiga Bank, Ltd. (8366.T) and Senshu Ikeda Holdings, Inc. signed a memorandum of understanding on October 29, 2026, to consolidate via a share exchange into an integrated holding…
- **[Lionsgate](https://specialsitsdigest.com/special-situations-digest-39/)** (LION (US) · MCAP $3.6B · Acquisitions · Issue #39): Legendary Entertainment has reportedly submitted a takeover offer for Lionsgate (LION), though both companies declined to comment.
- **[Mitsubishi Logistics Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (9301.T (JP) · MCAP $3.2B · Acquisitions · Issue #39): Mitsubishi Logistics decided to enter a share transfer agreement with Hankyu Hanshin Holdings to acquire all shares of Hankyu Hanshin Express and make it a consolidated subsidiary.
- **[Plus500](https://specialsitsdigest.com/special-situations-digest-39/)** (PLUS.L (UK) · MCAP $3.1B · Acquisitions · Issue #39): Plus500 (PLUS.L) has conditionally agreed to acquire Hedge Capital Markets Inc. in a cash transaction for an undisclosed price.
- **[Dalmia Bharat Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (DALBHARAT.NS (IN) · MCAP $3.0B · Acquisitions · Issue #39): Dalmia Bharat Limited (DALBHARAT.NS) is acquiring Bhilai Jaypee Cement Limited through a resolution plan submitted by its subsidiary, Dalmia Cement (Bharat) Limited.
- **[Dana Incorporated](https://specialsitsdigest.com/special-situations-digest-39/)** (DAN (US) · MCAP $2.9B · Acquisitions · Issue #39): Dana Incorporated (DAN) is pursuing a split-off and Reverse Morris Trust merger with Eaton Corporation plc using stock consideration.
- **[NOVAGOLD Resources Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (NG (US) · MCAP $2.8B · Acquisitions · Issue #39): NOVAGOLD sent a letter to select shareholders on October 27, 2026 defending its proposed Omnibus Incentive Plan (Resolution 2) and Employee Stock Purchase Plan (Resolution 3) after ISS…
- **[LCI Industries](https://specialsitsdigest.com/special-situations-digest-39/)** (LCII (US) · MCAP $2.4B · Acquisitions · Issue #39): LCI Industries (LCII) rejected an unsolicited, non-binding $101.00 per share cash proposal from Monomoy Capital Partners and reaffirmed its recommendation for the stock-for-stock merger…
- **[China Resources Double-Crane Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600062.SS (CN) · MCAP $2.4B · Acquisitions · Issue #39): China Resources Double-Crane plans to buy 188.1 million Lier Chemical shares, 23.50% of total share capital, in cash.
- **[Reliance Worldwide Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (RWC.AX (AU) · MCAP $2.3B · Acquisitions · Issue #39): A company acting on behalf of Brookfield Capital Partners LLC is pursuing a takeover of Reliance Worldwide Corporation (RWC.AX) via a scheme of arrangement at US$3.38 cash per share (about…
- **[GN Store Nord](https://specialsitsdigest.com/special-situations-digest-39/)** (GN.CO (DK) · MCAP $2.3B · Acquisitions · Issue #39): Amplifon shareholders at the October 29 meeting approved issuing 56 million ordinary shares reserved for GN Store Nord, excluding pre-emptive subscription rights.
- **[Xizang GaoZheng Explosive Co, Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (002827.SZ (CN) · MCAP $2.2B · Acquisitions · Issue #39): Xizang GaoZheng Explosive Co., Ltd. (002827.SZ) is planning to acquire from Tibet Geology & Mineral Group a 51% interest in Tibet Zilong Mining, a 51% interest in Tibet Ziyuan Copper and…
- **[Bodycote plc](https://specialsitsdigest.com/special-situations-digest-39/)** (BOY.L (UK) · MCAP $2.1B · Acquisitions · Issue #39): Vulcan Alpha Bidco Limited, a vehicle indirectly owned by funds managed or controlled by Veritas Capital, updated the financing for its recommended cash acquisition of Bodycote plc (BOY.L)…
- **[Argan S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (ARG.PA (FR) · MCAP $1.9B · Acquisitions · Issue #39): Warehouses De Pauw NV (WDP) and Argan S.A. (ARG.PA) agreed an all-share cross-border merger under which Argan shareholders will receive 3 newly issued WDP ordinary shares for each Argan…
- **[Corbion](https://specialsitsdigest.com/special-situations-digest-39/)** (CRBN.AS (NL) · MCAP $1.8B · Acquisitions · Issue #39): Media reports say CVC Capital Partners has submitted a takeover offer valuing Corbion at €1.8 billion (~$2.0B); the report is unconfirmed and no transaction has been agreed.
- **[Olin Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (OLN (US) · MCAP $1.8B · Acquisitions · Issue #39): Olin and Huntsman announced an all-stock merger of equals on June 16; the combined entity will be named OlinHuntsman.
- **[TriCo Bancshares](https://specialsitsdigest.com/special-situations-digest-39/)** (TCBK (US) · MCAP $1.7B · Acquisitions · Issue #39): TriCo stockholders approved the merger with First Hawaiian on October 29, 2026: 24,113,014 For, 223,343 Against, 29,594 Abstain.
- **[Personalis, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PSNL (US) · MCAP $1.7B · Acquisitions · Issue #39): Offer $16.25 · premium 28%. Tempus AI, Inc. will acquire Personalis, Inc. (PSNL) for $16.25 per share in a stock-for-stock merger with a collar, representing a 28% premium to the unaffected 30-day VWAP.
- **[Trump Media & Technology Group Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (DJT (US) · MCAP $1.7B · Acquisitions · Issue #39): Trump Media & Technology Group Corp. (DJT) is pursuing an all-stock merger with TAE Technologies, Inc. The per-share merger consideration is determined by a formula dividing TMTG's defined…
- **[Devyani International](https://specialsitsdigest.com/special-situations-digest-39/)** (DEVYANI.NS (IN) · MCAP $1.6B · Acquisitions · Issue #39): Devyani International (DEVYANI.NS) will acquire Sapphire Foods India in an all-stock merger via a scheme of arrangement.
- **[Nexa Resources S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (NEXA (US) · MCAP $1.6B · Acquisitions · Issue #39): Votorantim signed a definitive agreement to sell its 64.68% controlling stake in Nexa Resources S.A. (NEXA) to Boliden in exchange for 0.25 Boliden common shares per Nexa share.
- **[Aura Investments Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (AURA.TA (IL) · MCAP $1.6B · Acquisitions · Issue #39): Aura Investments Ltd. (AURA.TA) signed an agreement to acquire Bait BaKfar at a valuation of NIS 1.7 billion.
- **[Inabata & Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (8098.T (JP) · MCAP $1.5B · Acquisitions · Issue #39): Inabata's board resolved on October 27, 2026 to acquire an additional 65% equivalent of shares in ULVAC Coating Co., Ltd. (ULC), its equity-method affiliate, from ULVAC, Inc. The…
- **[Vesuvius](https://specialsitsdigest.com/special-situations-digest-39/)** (VSVS.L (UK) · MCAP $1.5B · Acquisitions · Issue #39): RHI Magnesita extended the deadline for a possible offer for Vesuvius (VSVS.L) to 24 November 2026.
- **[Tabcorp Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TAH.AX (AU) · MCAP $1.4B · Acquisitions · Issue #39): Tabcorp Holdings Limited (TAH.AX) agreed to acquire BetMakers Technology Group for $0.24 per share via a scheme of arrangement.
- **[Peoples Bancorp Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PEBO (US) · MCAP $1.4B · Acquisitions · Issue #39): closes Oct 30, 2026. Peoples Bancorp Inc. (PEBO) signed a definitive merger agreement on September 30, 2026, to acquire Capital Bancorp, Inc. in an all-stock transaction valued at approximately $728.1 million…
- **[Grupo Televisa](https://specialsitsdigest.com/special-situations-digest-39/)** (TV (US) · MCAP $1.2B · Acquisitions · Issue #39): Grupo Televisa (TV) and Fintech Holdings are acquiring AT&T Mexico for $2 billion in cash.
- **[Towa Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4553.T (JP) · MCAP $1.1B · Acquisitions · Issue #39): Towa Pharmaceutical's board resolved on July 3, 2026 to acquire all shares of Tanabe Pharma Factory Co., Ltd. and make it a wholly owned subsidiary.

### Strategic Reviews (https://specialsitsdigest.com/strategic-reviews/)

- **[Space Exploration Technologies](https://specialsitsdigest.com/special-situations-digest-39/)** (SPCX (US) · MCAP $1.8T · Strategic Reviews · Issue #39): Space Exploration Technologies (SPCX) and Tesla are formally evaluating a potential merger, possibly structured as an all-stock deal.
- **[Tesla, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (TSLA (US) · MCAP $1.5T · Strategic Reviews · Issue #39): Tesla, Inc. (TSLA) and SpaceX have each formed special committees of independent directors to examine a possible combination, but no proposal or deal terms exist.
- **[HSBC Holdings plc](https://specialsitsdigest.com/special-situations-digest-39/)** (HSBC (US) · MCAP $294.3B · Strategic Reviews · Issue #39): HSBC Holdings plc (HSBC) commenced a strategic review of its retail and domestic small and mid-sized corporate banking operations in Türkiye.
- **[Linde plc](https://specialsitsdigest.com/special-situations-digest-39/)** (LIN (US) · MCAP $231.0B · Strategic Reviews · Issue #39): Linde plc (LIN) is evaluating strategic alternatives for its U.S. home-care business, Lincare.
- **[S&P Global Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SPGI (US) · MCAP $130.3B · Strategic Reviews · Issue #39): S&P Global announced a strategic review of Capital IQ and associated data businesses within Market Intelligence, including a potential separation.
- **[Truist Financial](https://specialsitsdigest.com/special-situations-digest-39/)** (TFC (US) · MCAP $58.6B · Strategic Reviews · Issue #39): Truist Financial (TFC) is seeking a buyer for specialty lender Afco Credit, according to an October 26 report citing unnamed sources.
- **[Vonovia SE](https://specialsitsdigest.com/special-situations-digest-39/)** (VNA.DE (DE) · MCAP $15.6B · Strategic Reviews · Issue #39): Vonovia SE (VNA.DE) put its project development division under strategic review and lowered its 2026 and 2028 financial targets.
- **[D'Ieteren Group S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (DIE.BR (BE) · MCAP $10.1B · Strategic Reviews · Issue #39): Minority shareholders of Belron are assessing strategic options for their stakes, including a potential listing of the vehicle-glass business.
- **[ASMPT Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0522.HK (HK) · MCAP $6.5B · Strategic Reviews · Issue #39): IDG Capital is the most advanced bidder for ASMPT's surface mount technology (SMT) unit, in a deal that could value the unit at over $1 billion, per three sources.
- **[Terex Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (TEX (US) · MCAP $5.7B · Strategic Reviews · Issue #39): Terex is separating its Aerials segment and has moved from evaluating inbound interest to active engagement with multiple strategic counterparties; priority is an outcome that maximizes…
- **[Valmet Oyj](https://specialsitsdigest.com/special-situations-digest-39/)** (VALMT.HE (FI) · MCAP $5.5B · Strategic Reviews · Issue #39): Valmet Oyj (VALMT.HE) is conducting a strategic review of a potential separation of its two core businesses, Biomaterial Solutions and Services and Process Performance Solutions, into…
- **[LKQ Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (LKQ (US) · MCAP $4.6B · Strategic Reviews · Issue #39): LKQ Corporation's (LKQ) board suspended its strategic review, including the sales process for the Specialty business, to allow incoming CEO Sal Abbate to assess the company and its…
- **[Bright Horizons Family Solutions Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (BFAM (US) · MCAP $2.7B · Strategic Reviews · Issue #39): Bright Horizons Family Solutions Inc. (BFAM) is reviewing strategic alternatives for its Australian operations and moving "with urgency." The company recorded a $290 million non-cash…
- **[Alsea](https://specialsitsdigest.com/special-situations-digest-39/)** (ALSEA.MX (MX) · MCAP $2.2B · Strategic Reviews · Issue #39): Alsea is negotiating the potential sale of its Burger King operations in Mexico, Argentina and Chile, a network of 368 restaurants (168 Mexico, 107 Argentina, 93 Chile).
- **[InMode Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (INMD (US) · MCAP $803M · Strategic Reviews · Issue #39): InMode Ltd. (INMD) is continuing a strategic review of acquisition proposals and alternatives following the expiration of a bid from a group including Meir Shamir and the company's CEO…
- **[Oatly Group AB](https://specialsitsdigest.com/special-situations-digest-39/)** (OTLY (US) · MCAP $375M · Strategic Reviews · Issue #39): Oatly Group AB (OTLY) is conducting a strategic review of its Greater China business and expects to complete the process within 2026 (Form 6-K).
- **[NewtekOne, Inc](https://specialsitsdigest.com/special-situations-digest-39/)** (NEWT (US) · MCAP $318M · Strategic Reviews · Issue #39): NewtekOne (NEWT) is exploring strategic alternatives to help the market recognize the value of its business.
- **[Artiva Biotherapeutics, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (ARTV (US) · MCAP $301M · Strategic Reviews · Issue #39): Artiva Biotherapeutics (ARTV) is evaluating strategic alternatives, including a sale or liquidation, after discontinuing the development of its lead asset AlloNK (AB-101) (Form 8-K).
- **[Citizens Community Bancorp](https://specialsitsdigest.com/special-situations-digest-39/)** (CZWI (US) · MCAP $207M · Strategic Reviews · Issue #39): Citizens Community Bancorp (CZWI) is exploring strategic opportunities with investment banks to determine the best interest of shareholders.
- **[Deoleo](https://specialsitsdigest.com/special-situations-digest-39/)** (OLE.MC (ES) · MCAP $193M · Strategic Reviews · Issue #39): Two consortia submitted final offers to acquire Deoleo (OLE.MC) with enterprise values ranging from €510 million (~$569M) to €530 million (~$591M).
- **[Sandfire Resources America Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SFR.V (CA) · MCAP $183M · Strategic Reviews · Issue #39): Sandfire Resources America Inc. (SFR.V) initiated a strategic review to advance its Black Butte copper project and maximize shareholder value.
- **[Shutterstock, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SSTK (US) · MCAP $160M · Strategic Reviews · Issue #39): Shutterstock, Inc. (SSTK) appointed founder and Chairman Jon Oringer as CEO effective October 28, 2026.
- **[Median Technologies](https://specialsitsdigest.com/special-situations-digest-39/)** (ALMDT.PA (FR) · MCAP $157M · Strategic Reviews · Issue #39): Median Technologies (ALMDT.PA) has formed a Strategic Review Committee to examine structural options, including a potential separation or U.S. listing.
- **[Schroder BSC Social Impact Trust plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SBSI.L (UK) · MCAP $82M · Strategic Reviews · Issue #39): Schroder BSC Social Impact Trust plc (SBSI.L) is conducting a strategic review to address a 31.4% discount to NAV.
- **[Vertical Aerospace](https://specialsitsdigest.com/special-situations-digest-39/)** (EVTL (US) · MCAP $75M · Strategic Reviews · Issue #39): Vertical Aerospace (EVTL) has initiated a review of strategic alternatives to explore potential strategic and financial partnerships.
- **[PodcastOne](https://specialsitsdigest.com/special-situations-digest-39/)** (PODC (US) · MCAP $74M · Strategic Reviews · Issue #39): PodcastOne (PODC) is exploring a potential sale after receiving inbound acquisition interest from multiple strategic parties.
- **[Big River Industries Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (BRI.AX (AU) · MCAP $72M · Strategic Reviews · Issue #39): Big River Industries Ltd (BRI.AX) has engaged Greenstone Partners to assess strategic options for the company.
- **[Cable One, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (CABO (US) · MCAP $30M · Strategic Reviews · Issue #39): Cable One, Inc. (CABO) formed a special committee to evaluate strategic alternatives and appointed Paul Keglevic to the board effective October 30, 2026 (Form 8-K).
- **[TransCode Therapeutics, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (RNAZ (US) · MCAP $29M · Strategic Reviews · Issue #39): TransCode Therapeutics, Inc. (RNAZ) initiated a formal strategic process on October 28, 2026, to maximize the value of the company and its oncology portfolio.
- **[Quadrise plc](https://specialsitsdigest.com/special-situations-digest-39/)** (QED.L (UK) · MCAP $29M · Strategic Reviews · Issue #39): Quadrise plc (AIM:QED) launched a Strategic Review to identify and assess strategic, corporate, commercial and financing options, including potential partnerships.
- **[Stem Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (STEM (US) · MCAP $29M · Strategic Reviews · Issue #39): Stem Inc. (NYSE:STEM) announced Monday, Oct 26, 2026 that its board initiated a formal review of strategic alternatives aimed at maximizing shareholder value.
- **[111, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (YI (US) · MCAP $25M · Strategic Reviews · Issue #39): 111, Inc. (YI) retained Houlihan Lokey China Limited as financial advisor and Kirkland & Ellis as U.S. legal counsel to a three-director special committee evaluating the September 16, 2026…
- **[Impact Minerals](https://specialsitsdigest.com/special-situations-digest-39/)** (IPT.AX (AU) · MCAP $9M · Strategic Reviews · Issue #39): Impact Minerals (IPT.AX) concluded a strategic review to prioritize its Lake Hope high-purity alumina project and monetize its Broken Hill assets.
- **[AMA Corporation PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (ALAMA.PA (FR) · MCAP $6M · Strategic Reviews · Issue #39): AMA Corporation PLC (ALAMA.PA) is pursuing strategic alternatives aimed at supporting its development and possibly maximizing the value of its technology and commercial assets while…
- **[Longeveron Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (LGVN (US) · MCAP $6M · Strategic Reviews · Issue #39): Longeveron Inc. (LGVN) retained Lucid Capital Markets, LLC as financial advisor to explore strategic opportunities, including a potential business combination.
- **[PG&E Corporation](https://specialsitsdigest.com/special-situations-digest-38/)** (PCG (US) · MCAP $27.8B · Strategic Reviews · Issue #38): PG&E Corporation (PCG) is conducting a strategic review and has cut planned 2027 capital spending by $2.0 billion to $11.4 billion.
- **[Northern Star Resources](https://specialsitsdigest.com/special-situations-digest-38/)** (NST.AX (AU) · MCAP $25.1B · Strategic Reviews · Issue #38): Northern Star Resources (NST.AX) is assessing its assets for potential sales under new CEO Suresh Vadnagra.
- **[Banco BPM](https://specialsitsdigest.com/special-situations-digest-38/)** (BAMI.MI (IT) · MCAP $22.1B · Strategic Reviews · Issue #38): Crédit Agricole now holds 29.3% of Banco BPM (BAMI.MI) and is considering a combination with Crédit Agricole Italia.
- **[Uniper SE](https://specialsitsdigest.com/special-situations-digest-38/)** (UN0.DE (DE) · MCAP $20.4B · Strategic Reviews · Issue #38): Uniper SE (UN0.DE) is preparing for a possible IPO or block sale to private investors and consortia.
- **[Essity](https://specialsitsdigest.com/special-situations-digest-38/)** (ESSITY-B.ST (SE) · MCAP $18.8B · Strategic Reviews · Issue #38): Essity is comparing separation of Consumer Tissue with retaining it.
- **[Instacart](https://specialsitsdigest.com/special-situations-digest-38/)** (CART (US) · MCAP $13.1B · Strategic Reviews · Issue #38): Instacart (CART) is exploring a possible sale and is working with an investment bank to weigh its options, according to The Information.
- **[Tikehau Capital](https://specialsitsdigest.com/special-situations-digest-38/)** (TKO.PA (FR) · MCAP $3.1B · Strategic Reviews · Issue #38): Tikehau Capital (TKO.PA) has mandated an investment bank to find a new minority shareholder for its asset management subsidiary, Tikehau IM.
- **[H.B. Fuller Company](https://specialsitsdigest.com/special-situations-digest-38/)** (FUL (US) · MCAP $2.7B · Strategic Reviews · Issue #38): H.B. Fuller (FUL) rejected Ancora’s second unsolicited, non-binding cash proposal of $1.2 billion–$1.4 billion for Building Adhesive Solutions, up from $1.1 billion–$1.2 billion.
- **[Big Yellow Group](https://specialsitsdigest.com/special-situations-digest-38/)** (BYG.L (UK) · MCAP $2.4B · Strategic Reviews · Issue #38): On October 15, 2026, Big Yellow Group announced it is considering all options, including a possible sale, disposal of non-core assets, and other measures to maximize shareholder value.
- **[Wienerberger AG](https://specialsitsdigest.com/special-situations-digest-38/)** (WIE.VI (AT) · MCAP $2.0B · Strategic Reviews · Issue #38): Wienerberger AG (WIE.VI) launched a strategic review of its business and accelerated a savings program following a reduction in its 2026 operating EBITDA forecast to EUR 640-650 million.
- **[Guangdong Golden Dragon Development Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (000712.SZ (CN) · MCAP $1.4B · Strategic Reviews · Issue #38): Guangdong Golden Dragon Development (000712.SZ) announced on October 8 that it is planning a transaction expected to constitute a major asset restructuring.
- **[Logan Energy Corp](https://specialsitsdigest.com/special-situations-digest-38/)** (LGN.V (CA) · MCAP $641M · Strategic Reviews · Issue #38): Logan Energy Corp (LGN.V) is exploring strategic options including a potential sale, according to a Bloomberg News report.
- **[Jiangsu Xiehe Electronic Co., Ltd](https://specialsitsdigest.com/special-situations-digest-38/)** (605258.SS (CN) · MCAP $544M · Strategic Reviews · Issue #38): Controlling shareholders Zhang Nanguo, Zhang Minjin, Zhang Nanxing, and Zhang Jianrong notified Xiehe Electronics (605258.SS) on October 23 of a planned major transaction that could result…
- **[SkyCity Entertainment Group](https://specialsitsdigest.com/special-situations-digest-38/)** (SKC.AX (AU) · MCAP $426M · Strategic Reviews · Issue #38): SkyCity Entertainment Group (SKC.AX) launched a formal structured process to attract takeover bids, announced at its annual shareholders' meeting on 21 October 2026.
- **[Solara Active Pharma Sciences](https://specialsitsdigest.com/special-situations-digest-38/)** (SOLARA.NS (IN) · MCAP $311M · Strategic Reviews · Issue #38): Solara Active Pharma Sciences continues its strategic review of the Ibuprofen business.
- **[Archer](https://specialsitsdigest.com/special-situations-digest-38/)** (ARCH.OL (NO) · MCAP $193M · Strategic Reviews · Issue #38): Archer is withdrawing from offshore wind EPC and considering a partial or full sale of its Archer Wind division.
- **[WhiteHorse Finance](https://specialsitsdigest.com/special-situations-digest-38/)** (WHF (US) · MCAP $171M · Strategic Reviews · Issue #38): WhiteHorse Finance (WHF) initiated a formal strategic review to explore value-unlocking paths, including potential asset sales or broader structural transactions.
- **[Zevia](https://specialsitsdigest.com/special-situations-digest-38/)** (ZVIA (US) · MCAP $92M · Strategic Reviews · Issue #38): Zevia agreed to up to $20 million of Series A senior convertible preferred financing from GP Investments affiliate Bubble Holdings: $15 million closed October 22 and $5 million is deferred…
- **[TransAct Technologies Incorporated](https://specialsitsdigest.com/special-situations-digest-38/)** (TACT (US) · MCAP $54M · Strategic Reviews · Issue #38): TransAct Technologies (TACT) is evaluating strategic alternatives with an advisor.
- **[Lithium Africa Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (LAF.V (CA) · MCAP $36M · Strategic Reviews · Issue #38): Lithium Africa Corp. (LAF.V) received two non-binding offers to finance its Springbok Project in South Africa.
- **[Freeport Resources Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (FRI.V (CA) · MCAP $16M · Strategic Reviews · Issue #38): Freeport Resources Inc. (FRI.V) repurchased all rights to a 1.5% net smelter returns royalty on its Yandera Copper Project.
- **[Fractyl Health, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (GUTS (US) · MCAP $15M · Strategic Reviews · Issue #38): Fractyl Health (GUTS) will reduce its workforce by approximately 45%, with the reduction expected to be substantially completed by November 2026.
- **[Rocky Mountain Chocolate Factory, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (RMCF (US) · MCAP $9M · Strategic Reviews · Issue #38): Rocky Mountain Chocolate Factory, Inc. (RMCF) is exploring a sale, merger or going-private deal through a board committee and has received expressions of interest.
- **[AquaBounty Technologies, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (AQB (US) · MCAP $6M · Strategic Reviews · Issue #38): AquaBounty Technologies (AQB) registered the resale of 8.1 million common shares following the automatic conversion of all Series A and Series B Convertible Preferred Stock on October 23…
- **[Adcore Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (ADCO.TO (CA) · MCAP $4M · Strategic Reviews · Issue #38): Adcore implemented a workforce reduction of 20 employees, approximately 25%.
- **[Coppermoly Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (COY.AX (AU) · MCAP $2M · Strategic Reviews · Issue #38): Coppermoly Limited (COY.AX) has opened a strategic review of its operations.
- **[Valion Bio, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (VBIO (US) · MCAP $1M · Strategic Reviews · Issue #38): Valion Bio, Inc. (VBIO) is evaluating strategic partnerships, co-investment structures, licensing deals, or a sale for its Velocity Bioworks CDMO subsidiary.
- **[Oceanic Wind Energy Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (NKW-H.V (CA) · Strategic Reviews · Issue #38): Oceanic Wind Energy Inc. (NKW-H.V) extended a non-binding memorandum of understanding with Ming Yang Smart Energy Group Limited regarding a proposed C$120 million (~$85M) investment in the…
- **[Gencurix Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (229000.KQ (KR) · MCAP $35M (last traded 2026-09) · Strategic Reviews · Issue #38): Gencurix Inc. (229000.KQ) is seeking a sale of management control.
- **[UBS Group AG](https://specialsitsdigest.com/special-situations-digest-37/)** (UBS (US) · MCAP $146.4B · Strategic Reviews · Issue #37): The Swiss upper house voted on September 23, 2026 to require UBS to back its foreign participations with 90% CET1 capital; the bill now goes to the lower house.

### Divestitures (https://specialsitsdigest.com/divestitures/)

- **[SK hynix](https://specialsitsdigest.com/special-situations-digest-39/)** (000660.KS (KR) · MCAP $736.8B · Divestitures · Issue #39): SK hynix CEO Kwak Ro-jeong said Solidigm has stopped reviewing a pre-IPO and an IPO, announced Oct. 28 at the Q3 earnings briefing.
- **[Reliance Industries](https://specialsitsdigest.com/special-situations-digest-39/)** (RELIANCE.NS (IN) · MCAP $164.6B · Divestitures · Issue #39): Reliance Industries (RELIANCE.NS) listed its telecom arm Jio Platforms on the BSE and NSE today after raising Rs 30,213 crore (~$3.2B) in India's largest-ever IPO.
- **[Iberdrola, S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (IBE.MC (ES) · MCAP $163.3B · Divestitures · Issue #39): Iberdrola, S.A. (IBE.MC) is considering a sale of all its assets in Poland and is working with advisers on the potential divestiture.
- **[Johnson Controls](https://specialsitsdigest.com/special-situations-digest-39/)** (JCI (US) · MCAP $94.4B · Divestitures · Issue #39): Truelink Capital signed a definitive agreement on October 27, 2026, to acquire the global intrusion products business of Johnson Controls (JCI) for undisclosed terms.
- **[Glencore](https://specialsitsdigest.com/special-situations-digest-39/)** (GLEN.L (UK) · MCAP $84.6B · Divestitures · Issue #39): Glencore (GLEN.L) is in talks to sell a 40% stake in its DR Congo interests to Orion CMC in a deal that values those DRC assets (Mutanda and Kamoto Copper) at about $9.0 billion including…
- **[BASF](https://specialsitsdigest.com/special-situations-digest-39/)** (BAS.DE (DE) · MCAP $50.7B · Divestitures · Issue #39): BASF confirmed the IPO of its Agricultural Solutions division on the Frankfurt Stock Exchange remains on track for mid-2027.
- **[Unimicron Technology Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (3037.TW (TW) · MCAP $49.8B · Divestitures · Issue #39): Unimicron Technology Corp. (3037.TW) is seeking to sell all equity interests in its Japanese subsidiary, Unimicron Japan Co., Ltd., to Meiko Electronics Co., Ltd. The board resolved on…
- **[Sea Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (SE (US) · MCAP $45.5B · Divestitures · Issue #39): Sea Limited (SE) plans to list its financial services unit Monee via an IPO and launch an AI enterprise platform called Sea Cloud.
- **[ArcelorMittal](https://specialsitsdigest.com/special-situations-digest-39/)** (MT.AS (NL) · MCAP $44.9B · Divestitures · Issue #39): ArcelorMittal (MT.AS) reached an initial agreement to transfer ArcelorMittal South Africa to the Industrial Development Corporation (IDC) for a cash component of roughly R3 billion and the…
- **[Coal India Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (COALINDIA.NS (IN) · MCAP $26.2B · Divestitures · Issue #39): Government plans to list IIFCL, Mahanadi Coalfields and South Eastern Coalfields this fiscal year, plus launch a second public InvIT.
- **[Xylem Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (XYL (US) · MCAP $25.3B · Divestitures · Issue #39): Xylem announced intent to divest Applied Water International and Specialty Flow Control, disclosed October 27, 2026 with Q3 2026 results.
- **[Rogers Communications Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (RCI (US) · MCAP $17.3B · Divestitures · Issue #39): Rogers Communications Inc. (RCI) is pursuing a sale of a minority stake in its sports, media, and entertainment assets, Rogers Sports.
- **[Kuaishou Technology](https://specialsitsdigest.com/special-situations-digest-39/)** (1024.HK (HK) · MCAP $14.6B · Divestitures · Issue #39): Kuaishou Technology (1024.HK) completed a 19.8 billion yuan ($2.98 billion) fundraising round for its AI unit Beijing Kling.
- **[LG Chem](https://specialsitsdigest.com/special-situations-digest-39/)** (051910.KS (KR) · MCAP $12.9B · Divestitures · Issue #39): LG Chem decided via disclosure to dispose of KRW 2.5 trillion (~$1.9B) worth of its LG Energy Solution stake, with the disposal period set for November 27 to December 24.
- **[Semtech Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (SMTC (US) · MCAP $11.9B · Divestitures · Issue #39): Semtech is divesting its cellular modules business and expects regulatory clearances, targeting completion in fiscal fourth quarter.
- **[GAIL (India) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (GAIL.NS (IN) · MCAP $11.6B · Divestitures · Issue #39): GAIL (India) Limited (GAIL.NS) is transferring six city gas distribution geographical areas to its wholly owned subsidiary GAIL Gas Limited.
- **[Crane](https://specialsitsdigest.com/special-situations-digest-39/)** (CR (US) · MCAP $11.5B · Divestitures · Issue #39): Exponent is acquiring Crane Building Services & Utilities from Crane (CR) in a carve-out divestiture.
- **[Saputo](https://specialsitsdigest.com/special-situations-digest-39/)** (SAP.TO (CA) · MCAP $11.4B · Divestitures · Issue #39): Saputo entered a definitive agreement to sell its Dairy Division (UK) to Lactalis for an enterprise value of approximately £988 million ($1.28 billion).
- **[Sembcorp Industries Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (U96.SI (SG) · MCAP $8.2B · Divestitures · Issue #39): Sembcorp Industries is meeting investors for a proposed IPO of its Indian renewable energy subsidiary Sembcorp Green Infra Ltd., which could raise up to ₹3,750 crore (~$394M).
- **[Sojitz Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (2768.T (JP) · MCAP $6.8B · Divestitures · Issue #39): Sojitz Corporation (2768.T) signed a transfer agreement to sell its interests in the Gregory Crinum coking coal business in Australia.
- **[Shenzhen Kaifa Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000021.SZ (CN) · MCAP $6.6B · Divestitures · Issue #39): Shenzhen Kaifa Technology (000021.SZ) will publicly list and sell its entire 17.034% stake in unlisted Onna Technology (Shenzhen) Group via the Shenzhen United Property Exchange.
- **[Indian Overseas Bank](https://specialsitsdigest.com/special-situations-digest-39/)** (IOB.NS (IN) · MCAP $5.9B · Divestitures · Issue #39): The Indian government plans to reduce its stake in Indian Overseas Bank (IOB.NS) to 75% within a year to comply with minimum public-shareholding rules.
- **[Sunwoda Electronic Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300207.SZ (CN) · MCAP $4.4B · Divestitures · Issue #39): Xiaomi's wholly-owned subsidiary Hanxing Venture will invest RMB 1.7 billion (~$256M) in Sunwoda EVB for ~RMB 898 million of new registered capital, becoming its third-largest shareholder…
- **[Dubai Investments PJSC](https://specialsitsdigest.com/special-situations-digest-39/)** (DIC.AE (AE) · MCAP $4.3B · Divestitures · Issue #39): closes Nov 11, 2026. DIP Holding Plc, a subsidiary of Dubai Investments PJSC, launched its IPO on the Dubai Financial Market with a price range of AED 1.10 to AED 1.15 per share.
- **[Mapletree Industrial Trust](https://specialsitsdigest.com/special-situations-digest-39/)** (ME8U.SI (SG) · MCAP $3.9B · Divestitures · Issue #39): Mapletree Industrial Trust (ME8U.SI) is seeking to sell a portfolio of 22 older US data centres valued at about US$1.24 billion, with US$1.07 billion attributable to the trust.
- **[EQB Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (EQB.TO (CA) · MCAP $3.6B · Divestitures · Issue #39): EQB Inc. (EQB.TO) signed a definitive agreement to sell 100% of Bennington Financial Corp. to Desjardins Group for a price equivalent to an 8% discount of lease receivables.
- **[DOF](https://specialsitsdigest.com/special-situations-digest-39/)** (DOF.OL (NO) · MCAP $3.5B · Divestitures · Issue #39): DOF (DOF.OL) agreed to sell its subsea construction vessel Skandi Implementer to an undisclosed buyer.
- **[PennyMac Financial Services Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PFSI (US) · MCAP $3.3B · Divestitures · Issue #39): PennyMac Financial Services Inc. (PFSI) agreed to sell $29 billion of low-coupon mortgage servicing rights for estimated net proceeds of $490 million in cash.
- **[Allos](https://specialsitsdigest.com/special-situations-digest-39/)** (ALOS3.SA (BR) · MCAP $3.2B · Divestitures · Issue #39): Allos (ALOS3.SA) is negotiating the sale of stakes ranging from 5% to 70% in seven shopping centers to the real estate fund Kinea Allos Malls (KAML11).
- **[Kanematsu Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (8020.T (JP) · MCAP $2.5B · Divestitures · Issue #39): Kanematsu Corporation (8020.T) expects a JPY 14.5 billion (~$92M) increase in FY March 2027 profit attributable to owners of the parent from the sale of all Global Security Expert Co., Ltd.…
- **[GMO internet group, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (9449.T (JP) · MCAP $1.9B · Divestitures · Issue #39): GMO internet group, Inc. (9449.T) is selling its 99.94% stake in GMO-Z.com Cryptonomics (Thailand) Co., Ltd. to BTGT Management (Thailand) Ltd. (EDINET extraordinary report).
- **[Shenzhen Gongjin Electronics Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603118.SS (CN) · MCAP $1.6B · Divestitures · Issue #39): Shenzhen Gongjin Electronics Co., Ltd. (603118.SS) is seeking to sell 100% of its subsidiary Shandong Wenyuan Communication Technology via a public listing on the Shenzhen United Equity…
- **[Perpetual Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (PPT.AX (AU) · MCAP $1.4B · Divestitures · Issue #39): Perpetual held its 2026 AGM on October 29, 2026.
- **[Austal Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ASB.AX (AU) · MCAP $1.4B · Divestitures · Issue #39): Wildcat Infrastructure LLC submitted a non-binding proposal to buy Austal Limited's (ASB.AX) U.S. business, including its shipyard unit Austal USA, at a cash-free, debt-free enterprise…
- **[Okasan Securities Group](https://specialsitsdigest.com/special-situations-digest-39/)** (8609.T (JP) · MCAP $1.3B · Divestitures · Issue #39): Okasan Securities Group (8609) will transfer all shares of its proprietary trading subsidiary, Sanko Securities, to Mirae Asset Securities Holdings (USA) Inc., a subsidiary of Korea's Mirae…
- **[Oakley Capital Investments Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (OCI.L (UK) · MCAP $1.2B · Divestitures · Issue #39): OCI agreed to sell £272m (~$364M) of stakes in five Oakley Capital private equity funds to Carlyle AlpInvest for £257m (~$344M), a 5.75% discount to the funds' value.
- **[Shenzhen Infinova Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (002528.SZ (CN) · MCAP $1.1B · Divestitures · Issue #39): Shenzhen Infinova Limited (002528.SZ) plans to auction 100% equity of two loss-making subsidiaries, Infinova (Hangzhou) Information System Technology and Xinpu Interconnect (Beijing)…
- **[Xinjiang GuanNong Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600251.SS (CN) · MCAP $1.1B · Divestitures · Issue #39): Xinjiang GuanNong Co., Ltd. (600251.SS) signed a non-binding intent agreement to sell its 51.26% stake in subsidiary Xinjiang Yintong Cotton Industry Co., Ltd. to controlling shareholder…
- **[Baosheng Technology Innovation Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600973.SS (CN) · MCAP $1.0B · Divestitures · Issue #39): Baosheng Technology Innovation (600973.SS) is initiating the sale of 100% of Shanghai Anjie Fire-Resistant Intelligent Cable, 100% of Baosheng (Shanghai) Cable Technology, and 95.6998% of…
- **[CSN](https://specialsitsdigest.com/special-situations-digest-39/)** (CSNA3.SA (BR) · MCAP $945M · Divestitures · Issue #39): CSN (CSNA3.SA) entered a ten-day exclusivity agreement with Huaxin to sell its cement division, CSN Cimentos, for an enterprise value of R$ 12.7 billion (~$2.3B).
- **[TSF Investments Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TSFINV.NS (IN) · MCAP $940M · Divestitures · Issue #39): TSF Investments Limited (TSFINV.NS) is selling its entire 3.74% stake in TVS Holdings Limited to the TVS Holdings promoter and promoter group.
- **[Mutares SE](https://specialsitsdigest.com/special-situations-digest-39/)** (MUX.DE (DE) · MCAP $860M · Divestitures · Issue #39): Mutares SE (MUX.DE) is selling the French SRT Group, which operates as Stuart, following an irrevocable takeover offer from Quiver.
- **[CECEP Techand Ecology & Environment Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300197.SZ (CN) · MCAP $842M · Divestitures · Issue #39): CECEP Techand Ecology & Environment (300197.SZ) is exiting its ecological protection and environmental governance business in a major related-party asset restructuring with its parent…
- **[Jilin Yatai (Group) Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600881.SS (CN) · MCAP $753M · Divestitures · Issue #39): Jilin Yatai (Group) Co., Ltd. (600881.SS) is seeking to sell a 20.81% stake in Northeast Securities to Changfa Group and a 9% stake to Changchun Financial Holding or its designated…
- **[Foresight Environmental Infrastructure Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (FGEN.L (UK) · MCAP $728M · Divestitures · Issue #39): Foresight Environmental Infrastructure Limited (FGEN.L) signed an agreement to sell its remaining 49% interest in six gas-to-grid anaerobic digestion facilities to Future Biogas for £104.0…
- **[Northpointe Bancshares, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (NPB (US) · MCAP $545M · Divestitures · Issue #39): Northpointe Bancshares, Inc. (NPB) signed a definitive agreement on October 26, 2026, to sell its distributed retail and consumer direct mortgage origination channels to CMG Mortgage Inc.…
- **[Tasco Joint Stock Company](https://specialsitsdigest.com/special-situations-digest-39/)** (HUT (VN) · MCAP $513M · Divestitures · Issue #39): Tasco Joint Stock Company (HUT) will divest all capital stakes in Tasco BOT One-Member Limited Liability Company and other BOT project-related companies.
- **[Zhuhai Zhongfu Industrial Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000659.SZ (CN) · MCAP $457M · Divestitures · Issue #39): Zhuhai Zhongfu Industrial (000659.SZ) is selling 100% of Hangzhou Zhongfu Container to Suzhou Kede Refrigeration Technology for an undisclosed cash amount.
- **[DO&SHUIHUA Group Co., LTD.](https://specialsitsdigest.com/special-situations-digest-39/)** (002798.SZ (CN) · MCAP $420M · Divestitures · Issue #39): DO&SHUIHUA Group Co., LTD. (002798.SZ), formerly D&O Home, plans to sell 100% of its wholly owned subsidiary Jingdezhen Oshino Ceramics through a public solicitation of potential buyers.
- **[Harbin Bank Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (6138.HK (HK) · MCAP $399M · Divestitures · Issue #39): Harbin Bank Co., Ltd. (6138.HK) conditionally agreed to sell a portfolio of credit and financial investment assets to Harbin Chengyin Asset Operation Co., Ltd. (Chengyin Asset) for RMB93.0…
- **[Guangdong LianTai Environmental Protection Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603797.SS (CN) · MCAP $345M · Divestitures · Issue #39): Guangdong LianTai Environmental Protection Co., Ltd. (603797.SS) plans to sell 100% equity in subsidiaries Shantou LianTai Water Co., Ltd. and Hunan LianTai Environmental Protection Co.…
- **[Future](https://specialsitsdigest.com/special-situations-digest-39/)** (FUTR.L (UK) · MCAP $340M · Divestitures · Issue #39): Future (FUTR.L) rebuffed indicative interest from advisers claiming to act for DMGT to acquire its current affairs magazine, The Week, for roughly £120 million (~$160M).
- **[Funeng Oriental Equipment Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300173.SZ (CN) · MCAP $339M · Divestitures · Issue #39): Funeng Oriental Equipment Technology (ST Funeng, 300173.SZ): wholly owned subsidiary Guangdong Funeng Investment Holding plans to publicly list its 21% stake in Guangzhou Fengyun, with the…
- **[V Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (7717.T (JP) · MCAP $280M · Divestitures · Issue #39): closes Nov 30, 2026. V Technology Co., Ltd. (7717.T) will transfer its 40% stake in VSC and 50% stake in IMEC to Tinglin Chuangye Factory (Kunshan) Investment Co., Ltd. for an undisclosed price.
- **[BUSINESS BRAIN SHOWA-OTA INC.](https://specialsitsdigest.com/special-situations-digest-39/)** (9658.T (JP) · MCAP $271M · Divestitures · Issue #39): Business Brain Showa-Ota Inc. (9658.T) will exit its 39.56% stake in Global Security Experts Inc. for $222 million in cash.
- **[Currenc Group Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (CURR (US) · MCAP $252M · Divestitures · Issue #39): Currenc Group Inc. (CURR) announced that subsidiary Seamless Group and New Margin Holding signed an October 29, 2026 reinstatement letter for the previously terminated SPA covering…
- **[MGX Resources Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (MGX.AX (AU) · MCAP $244M · Divestitures · Issue #39): MGX Resources Limited (MGX.AX) is progressing the divestment of its Koolan Island operation to Crestlink Koolan Pty Ltd for at least $20.2 million in up-front and deferred consideration.
- **[Golfzon Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (121440.KQ (KR) · MCAP $235M · Divestitures · Issue #39): MBK Partners signed a stock purchase agreement on October 27, 2026, to sell Golfzon County to a consortium of The Siena Group and CL Asset Management at a reported enterprise value of about…
- **[Daiwa House Logistics Trust](https://specialsitsdigest.com/special-situations-digest-39/)** (DHLU.SI (SG) · MCAP $225M · Divestitures · Issue #39): Daiwa House Logistics Trust (DHLU.SI) proposes to sell DPL Sendai Port to its sponsor, Daiwa House Industry, for 13.5 billion yen (US$85.8 million).
- **[JBM (Healthcare) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (2161.HK (HK) · MCAP $173M · Divestitures · Issue #39): JBM (Healthcare) Limited (2161.HK) is spinning off its branded TCM products and clinic services business, Po Chai Yuan Ho, for a separate listing on the HKEX Main Board.
- **[FUTABA Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (6986.T (JP) · MCAP $167M · Divestitures · Issue #39): closes Oct 31, 2028. FUTABA Corporation resolved on October 23, 2026 to sell the Chosei Precision Machinery Technology Center (land and buildings, 22,381.62 m² land area) within its Chosei Factory in Chiba…
- **[Paragon Globe Bhd](https://specialsitsdigest.com/special-situations-digest-39/)** (PGLOBE.KL (MY) · MCAP $132M · Divestitures · Issue #39): Paragon Globe Bhd (PGLOBE.KL) is selling 65 acres of land in Iskandar Puteri, Johor to a unit of DayOne Data Centers Ltd for RM398.11 million.
- **[WISeSat.Space Holdings Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (MCAP $119M · Divestitures · Issue #39): WISeSat.Space Holdings Corp. (SAIQ) announced that its subsidiary WISeSat.Space AG signed a binding letter of intent to sell satellite capacity associated with 12 satellites to SEALSQ Corp…
- **[Oricon Enterprises Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ORICONENT.NS (IN) · MCAP $93M · Divestitures · Issue #39): Oricon Enterprises Limited (ORICONENT) sold a building and assigned leasehold rights in the land to Anand Rathi Towers Limited for cash consideration of Rs 145 crore (~$15M).
- **[Hi Sun Technology (China) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0818.HK (HK) · MCAP $89M · Divestitures · Issue #39): Hi Sun Technology (China) Limited (0818.HK) is moving toward the payment stage of its disposal of interests in Cloopen following the completion of a merger on 28 October 2026.

### Tender Offers (https://specialsitsdigest.com/tender-offers/)

- **[Commerzbank](https://specialsitsdigest.com/special-situations-digest-39/)** (CBK.DE (DE) · MCAP $46.3B · Tender Offers · Issue #39): UniCredit has secured access to nearly 50% of Commerzbank's voting rights through its existing position and takeover-offer acceptances, but it does not yet own or control that stake.
- **[Delivery Hero SE](https://specialsitsdigest.com/special-situations-digest-39/)** (DHER.DE (DE) · MCAP $12.7B · Tender Offers · Issue #39): Offer €41.50 (as announced 20 Oct). Uber's voluntary public takeover offer for Delivery Hero (DHER.DE) at €41.50 per share in cash runs until November 5, 2026, the scheduled end of the acceptance period.
- **[Kakaku.com, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (2371.T (JP) · MCAP $4.7B · Tender Offers · Issue #39): Offer JPY 3,683 · premium 25.9% · closes Nov 19, 2026. Kakaku.com, Inc. (2371.T) faces two rival cash bids.
- **[Hugo Boss](https://specialsitsdigest.com/special-situations-digest-39/)** (BOSS.DE (DE) · MCAP $3.0B · Tender Offers · Issue #39): Offer €38. Frasers Group bought 198,666 Hugo Boss shares on October 23, 2026 for €7.63 million (~$8.5M), financed from its own cash, taking its direct holding to 34,468,065 shares, or 50.08% of the…
- **[Leopalace21 Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (8848.T (JP) · MCAP $2.0B · Tender Offers · Issue #39): Offer JPY 1,000. K891 Co., Ltd.'s tender offer for Leopalace21 shares, which began on September 15, 2026, ended successfully on October 30.
- **[Castrol India](https://specialsitsdigest.com/special-situations-digest-39/)** (CASTROLIND.NS (IN) · MCAP $2.0B · Tender Offers · Issue #39): Offer ₹194.04. Stonepeak and its partners propose to acquire up to 26% of Castrol India (CASTROLIND.NS) at INR194.04 per share in cash through a mandatory open offer.
- **[Fibra Macquarie México](https://specialsitsdigest.com/special-situations-digest-39/)** (FIBRAMQ12.MX (MX) · MCAP $2.0B · Tender Offers · Issue #39): Offer closes 2026-10-30. Fibra MTY extended the deadline for its public tender offer and reciprocal subscription (OPA) for up to 100% of Fibra Macquarie México (FIBRAMQ12.MX) to October 30, 2026.
- **[PolyPeptide Group AG](https://specialsitsdigest.com/special-situations-digest-39/)** (PPGN.SW (CH) · MCAP $1.7B · Tender Offers · Issue #39): PolyPeptide shareholders approved all proposals at an extraordinary general meeting in Baar, including election of five new board members.
- **[Systex Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (6214.TW (TW) · MCAP $1.7B · Tender Offers · Issue #39): Offer NT$92.5 in cash plus 0.84 Taiwan Mobile shares per Systex share. Taiwan Mobile's subsidiary TaiShin Telecom is tendering for Systex shares at 0.84 Taiwan Mobile shares plus NT$92.5 in cash (about US$2.85) per Systex share, a premium of nearly 30%.
- **[Evergrande Property Services Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (6666.HK (HK) · MCAP $1.4B · Tender Offers · Issue #39): Offer HK$0.8359. Everest Holdings I Limited, a PAG platform, agreed on 28 October 2026 to acquire 5,515,229,000 shares, or 51.016% of Evergrande Property Services Group Limited (6666.HK), for HK$4.026…
- **[Haitong Unitrust International Financial Leasing Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (1905.HK (HK) · MCAP $1.4B · Tender Offers · Issue #39): Shanghai International Group proposes to buy 51% of Haitong Unitrust International Financial Leasing Co., Ltd. (1905.HK) for about HK$9.09 billion in cash through pre-conditional voluntary…
- **[IIFL Capital Services Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (IIFLCAPS.NS (IN) · MCAP $1.2B · Tender Offers · Issue #39): FIH Mauritius Investments, a Fairfax India subsidiary, is making a cash open offer at INR 350 per share for up to 26% of IIFL Capital Services Limited (IIFLCAPS.NS) as it takes control.
- **[Aedas Homes, S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (AEDAS.MC (ES) · MCAP $1.2B · Tender Offers · Issue #39): Offer 24 euros. Neinor DMP BidCo, S.A.U. is launching an all-cash tender offer to delist Aedas Homes, S.A. (AEDAS.MC) at 24 euros per share (OPA de exclusión).
- **[Cementos Pacasmayo S.A.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (CPAC (US) · MCAP $1.1B · Tender Offers · Issue #39): Offer S/ 8.93. Inversiones ASPI S.A. (a subsidiary of Holcim Ltd., jointly and severally liable, and controlling shareholder) launched a Subsequent Public Tender Offer in Peru and a simultaneous U.S.…
- **[North Atlantic Energies](https://specialsitsdigest.com/special-situations-digest-39/)** (NAE.PA (FR) · MCAP $1.1B · Tender Offers · Issue #39): Offer €75. North Atlantic France is increasing its mandatory simplified tender offer price for North Atlantic Energies (NAE.PA) to €75 (~$84) per share in cash.
- **[JYP Entertainment](https://specialsitsdigest.com/special-situations-digest-39/)** (035900.KQ (KR) · MCAP $989M · Tender Offers · Issue #39): The NEXROC and SVCV Co., Ltd. announced plans to tender for 25% to 50% of JYP Entertainment (035900.KQ) starting 2026-11-20.
- **[PT Astra Otoparts Tbk](https://specialsitsdigest.com/special-situations-digest-39/)** (AUTO.JK (ID) · MCAP $871M · Tender Offers · Issue #39): Astra International is running a voluntary tender offer for up to 4.95% of PT Astra Otoparts Tbk (AUTO.JK) at Rp3,600 per share in cash, worth up to Rp858 billion (~$47M).
- **[Global Security Experts Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (4417.T (JP) · MCAP $790M · Tender Offers · Issue #39): Offer ¥8,500 · premium 6.5%. Accenture K.K. is taking Global Security Experts Inc. (4417.T) private in a cash tender offer at ¥8,500 (~$54) per share.
- **[KINX, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (093320.KQ (KR) · MCAP $642M · Tender Offers · Issue #39): Korea Internet Infra Holdings LLC plans to launch a tender offer for KINX, Inc. (093320.KQ) to acquire treasury shares and all common shares except those held by Gabia Co., Ltd. Three…
- **[Randoncorp](https://specialsitsdigest.com/special-situations-digest-39/)** (RAPT3.SA (BR) · MCAP $640M · Tender Offers · Issue #39): Offer R$ 12.80 (implied per RAPT3 share, per JP Morgan) · premium 17%. Dramd's OPA for Randoncorp voting shares was confirmed Oct 23 with the publication of the offer notice (edital); the B3 auction is set for Nov 16 at 3 PM.
- **[Echo Investment](https://specialsitsdigest.com/special-situations-digest-39/)** (ECH.WA (PL) · MCAP $560M · Tender Offers · Issue #39): Offer PLN 5.20 · premium proposed · closes Dec 7, 2026. WING, via its subsidiary Lisala, is paying PLN 5.20 per share in cash to acquire all remaining shares of Echo Investment (ECH.WA) in a voluntary tender offer.
- **[Kadoya Seiyu Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (2612.T (JP) · MCAP $548M · Tender Offers · Issue #39): Offer 2,514 yen per share · premium 67.9%. ITG-G Holdings, the Integral-backed bidder, extended its cash tender offer for Kadoya Sesame Mills (Kadoya Seiyu, 2612.T) to November 13, keeping the price at ¥2,514 per share; the price…
- **[Gabia Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (079940.KQ (KR) · MCAP $491M · Tender Offers · Issue #39): Macquarie Asset Management raised its cash tender offer price for Gabia Inc. (079940.KQ) by 10.4%, to KRW 53,000 (~$40) per share from the KRW 48,000 of its first offer, which failed in…
- **[Shanghai Yahong Moulding Co., Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (603159.SS (CN) · MCAP $440M · Tender Offers · Issue #39): Offer RMB 21.43. Shanghai Feike Investment is acquiring control of Shanghai Yahong (603159.SS) through a 29.99% block transfer and a conditional partial tender offer at RMB 21.43 per share.
- **[Trevi- Finanziaria Industriale S.p.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (TFIN.MI (IT) · MCAP $377M · Tender Offers · Issue #39): Offer €5.165 · premium 49%. Webuild's tender offer for Trevi-Finanziaria Industriale S.p.A. (TFIN.MI) at €5.165 per share in cash became mandatory and no longer subject to any condition after Webuild bought 3.1…
- **[Unifique](https://specialsitsdigest.com/special-situations-digest-39/)** (FIQE3.SA (BR) · MCAP $364M · Tender Offers · Issue #39): Unifique (FIQE3.SA) scheduled a special shareholder meeting for November 16, 2026, to discuss a new valuation of its shares.
- **[Azkoyen](https://specialsitsdigest.com/special-situations-digest-39/)** (AZK.MC (ES) · MCAP $283M · Tender Offers · Issue #39): CENIT Navarra bought 244,500 shares of Azkoyen (AZK.MC) for over 2.5 million euros to take a 1% stake.
- **[Accent Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (AX1.AX (AU) · MCAP $275M · Tender Offers · Issue #39): Offer A$0.65. Frasers Group plc declared its unsolicited cash takeover bid for Accent Group Limited (AX1.AX) at A$0.65 per share as its best and final offer.
- **[Groupe Pizzorno Environnement](https://specialsitsdigest.com/special-situations-digest-39/)** (GPE.PA (FR) · MCAP $269M · Tender Offers · Issue #39): Offer €62.50 · premium 10.2%. Paprec Group is launching a simplified public tender offer to buy 991,088 shares of Groupe Pizzorno Environnement for EUR 62.50 per share in cash.
- **[Aurora Cannabis Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (ACB (US) · MCAP $256M · Tender Offers · Issue #39): Offer US$5.00 · premium 28.9%. Curaleaf Holdings, Inc. is attempting a hostile takeover of Aurora Cannabis Inc. (ACB) with a revised bid of US$5.00 per share, consisting of 0.4013 Curaleaf subordinate voting shares and…
- **[ZE PAK Sa](https://specialsitsdigest.com/special-situations-digest-39/)** (ZEP.WA (PL) · MCAP $245M · Tender Offers · Issue #39): Offer PLN 18 · closes Dec 7, 2026. Argumenol Investment launched a cash tender offer (wezwanie) to acquire the remaining 34.04% of ZE PAK (ZEP.WA) at PLN 18 per share.
- **[SHARINGTECHNOLOGY Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (3989.T (JP) · MCAP $233M · Tender Offers · Issue #39): Offer ¥1,550. MP-2606 Co., Ltd.'s tender offer for SHARINGTECHNOLOGY Inc. at JPY 1,550 per share succeeded after 21,614,921 shares were tendered, exceeding the 16,030,200-share minimum.
- **[Trio Industrial Electronics Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1710.HK (HK) · MCAP $157M · Tender Offers · Issue #39): Luxshare Precision Limited may acquire a 75% stake in Trio Industrial Electronics Group Limited (1710.HK) under a non-binding memorandum of understanding dated 29 September 2026.
- **[Haiki+](https://specialsitsdigest.com/special-situations-digest-39/)** (HIK.MI (IT) · MCAP $140M · Tender Offers · Issue #39): Offer period 2026-10-05 to 2026-11-06. SG Holding and its concert parties now hold 72.36% of Haiki+ (HIK.MI), counting purchases outside the offer and shares tendered into its voluntary full takeover bid at €0.90 per share in…
- **[Scana ASA](https://specialsitsdigest.com/special-situations-digest-39/)** (SCANA.OL (NO) · MCAP $71M · Tender Offers · Issue #39): Offer NOK 1.40. Rieber & Søn AS launched a mandatory offer to buy all remaining 303.3 million shares of Scana ASA (SCANA.OL) for NOK 1.40 per share in cash.
- **[Zenith Minerals](https://specialsitsdigest.com/special-situations-digest-39/)** (ZNC.AX (AU) · MCAP $32M · Tender Offers · Issue #39): Offer 13.2 cents · premium 46.7%. Forrestania Resources extended its off-market takeover offer for Zenith Minerals (ZNC.AX) to November 12, offering 1 new Forrestania share for every 4.3 Zenith shares held (stock).
- **[Kip McGrath Education Centres Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (KME.AX (AU) · MCAP $26M · Tender Offers · Issue #39): Offer A$0.75 (as announced 22 Oct) · premium 66.7%. Crimson Consulting Australia Pty Ltd will compulsorily acquire all remaining shares of Kip McGrath Education Centres Limited (KME.AX) after reaching a 91.40% stake.
- **[Muraki](https://specialsitsdigest.com/special-situations-digest-39/)** (7477.T (JP) · MCAP $19M · Tender Offers · Issue #39): Offer 3,000 yen per share. Ikyo launched an unsolicited tender offer for Muraki (7477.T) at 3,000 yen per share in cash.
- **[Hang Yick Holdings Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1894.HK (HK) · MCAP $17M · Tender Offers · Issue #39): Offer HK$0.60 (as announced 9 Oct). Ngai Wa Ping is making a voluntary conditional cash partial offer to acquire 30 million shares of Hang Yick Holdings (1894.HK).
- **[Remak-Energomontaż S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (REMAK.WA (PL) · MCAP $15M · Tender Offers · Issue #39): ZARMEN Sp. z o.o. announced a tender offer (wezwanie do zapisywania się na sprzedaż) to acquire shares of Remak-Energomontaż S.A. (REMAK.WA).
- **[Web3 Meta Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (8093.HK (HK) · MCAP $13M · Tender Offers · Issue #39): Offer HK$1.68. Invengo Technology Pte. Ltd. is launching a conditional mandatory cash offer for Web3 Meta Limited (8093.HK) at HK$1.68 per share.
- **[Monnalisa S.p.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (MNL.MI (IT) · MCAP $5M (last traded 2026-10) · Tender Offers · Issue #39): Offer €0.6735 · premium 2.0%. Jafin Due S.r.l. and Modamet S.r.l. are offering to buy remaining shares of Monnalisa S.p.A. (MNL.MI) at €0.6735 per share (voluntary purchase commitment).
- **[Xin Yuan Enterprises Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1748.HK (HK) · MCAP $99M (last traded 2025-02) · Tender Offers · Issue #39): Offer HK$2.21 · premium approximately. Ocean Vivo Limited extended the pre-condition long-stop date for its proposed voluntary general cash offer for Xin Yuan Enterprises Group Limited (1748.HK) to November 30, 2026.
- **[Monte dei Paschi di Siena](https://specialsitsdigest.com/special-situations-digest-38/)** (BMPS.MI (IT) · MCAP $36.2B · Tender Offers · Issue #38): Intesa Sanpaolo is pursuing a €31.4 billion (~$35.2B) takeover bid for Monte dei Paschi di Siena (BMPS.MI) after increasing its offer by €0.25 in cash per share.
- **[Recordati](https://specialsitsdigest.com/special-situations-digest-38/)** (REC.MI (IT) · MCAP $12.3B · Tender Offers · Issue #38): Offer €53 · premium 3.3%. Respighi BidCo, backed by CVC Fund IX and Groupe Bruxelles Lambert, is paying €53 (~$59) per share in cash in its tender offer for Recordati (REC.MI), raised from €51.29 and declared best…
- **[Evonik Industries AG](https://specialsitsdigest.com/special-situations-digest-38/)** (EVK.DE (DE) · MCAP $11.1B · Tender Offers · Issue #38): BASF SE has reportedly raised its unsolicited cash takeover approach for Evonik Industries AG (EVK.DE) to EUR 24 per share, valuing the company at more than EUR 11 billion (~$12.3B)…
- **[Zabka Group S.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (ZAB.WA (PL) · MCAP $8.1B · Tender Offers · Issue #38): Offer PLN 32.00 · closes Dec 7, 2026. Circle K Polska is paying PLN 32 per share in cash to acquire 1,003 million shares of Zabka Group S.A. (ZAB.WA) in a tender offer.
- **[Shelly Group SE](https://specialsitsdigest.com/special-situations-digest-38/)** (SLYG.DE (DE) · MCAP $1.3B · Tender Offers · Issue #38): Offer €70.00 · premium 27%. SE 2026 A SAS, an indirect wholly-owned subsidiary of Schneider Electric SE, is seeking to acquire at least 12,330,305 and up to 13,244,827 shares of Shelly Group SE (SLYG.DE) at EUR70.00…
- **[AA Industrial Belting (Shanghai) Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (603580.SS (CN) · MCAP $1.3B · Tender Offers · Issue #38): Offer CNY 27.54. Shanghai Yusheng Tongfeng Metal Materials Technology plans to buy 13.1 million shares, or 10.01% of AA Industrial Belting (Shanghai) Co., Ltd. (603580.SS), for CNY 27.54 per share in a…
- **[Fnac Darty](https://specialsitsdigest.com/special-situations-digest-38/)** (FNAC.PA (FR) · MCAP $1.1B · Tender Offers · Issue #38): Offer €35 · closes Nov 9, 2026. The European Commission approved EP Group's public takeover offer (OPA) for Fnac Darty (FNAC.PA), finding no competition concerns.
- **[Pierre et Vacances-Center Parcs](https://specialsitsdigest.com/special-situations-digest-38/)** (VAC.PA (FR) · MCAP $957M · Tender Offers · Issue #38): Mubadala Capital, through MC Pomona Bidco, plans a voluntary all-cash tender offer for all outstanding Pierre et Vacances-Center Parcs (VAC.PA) securities under an agreement signed in July…
- **[Randoncorp S.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (RAPT3.SA (BR) · MCAP $640M · Tender Offers · Issue #38): RANDONCORP S.A. (B3: RAPT3, RAPT4) received from controlling shareholder DRAMD PARTICIPAÇÕES E ADMINISTRAÇÃO LTDA. the notice of a voluntary public offering (OPA) for up to all outstanding…
- **[Hanwha Machinery & Service Holdings Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (0220W0.KS (KR) · MCAP $493M · Tender Offers · Issue #38): Offer KRW 8,000 · premium 27%. Kim Dong-seon amended his cash tender offer for Hanwha Machinery & Service Holdings Co., Ltd. (0220W0.KS) on October 22, 2026, raising the planned quantity from 16,060,000 shares (19.00%)…
- **[Reway Group S.p.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (RWY.MI (IT) · MCAP $443M · Tender Offers · Issue #38): Rinova BidCo S.p.A. is conducting a mandatory tender offer to acquire all ordinary shares of Reway Group S.p.A. (RWY.MI) to delist the company from Euronext Growth Milan.
- **[Trevi-Finanziaria Industriale S.p.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (TFIN.MI (IT) · MCAP $377M · Tender Offers · Issue #38): Offer EUR 4.50 · premium approximately. Saudi Arabia's General Authority for Competition issued a no-objection letter on October 21, 2026 for Webuild's voluntary cash tender offer for Trevi-Finanziaria Industriale (TFIN.MI), with…
- **[KFM Kingdom Holdings Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (3816.HK (HK) · MCAP $358M · Tender Offers · Issue #38): Offer HK$2.00. Luxshare Hong Kong conditionally agreed to acquire 57% of KFM Kingdom from KIG Real Estate for HK$684 million, or HK$2.00 per share.
- **[Consorcio ARA](https://specialsitsdigest.com/special-situations-digest-38/)** (ARA.MX (MX) · MCAP $347M · Tender Offers · Issue #38): premium 20%. Consorcio ARA (ARA.MX) announced on September 29, 2026 that founding shareholders Germán Ahumada Russek and Luis Felipe Ahumada Russek intend to pursue a tender through a new vehicle for up…
- **[Azkoyen, S. A.](https://specialsitsdigest.com/special-situations-digest-38/)** (AZK.MC (ES) · MCAP $276M · Tender Offers · Issue #38): Ohmnia Electronics, S. L. received unconditional antitrust clearance to acquire Azkoyen, S. A. (AZK.MC) in a takeover bid valued at €244.5 million (~$274M).
- **[Aurora Cannabis](https://specialsitsdigest.com/special-situations-digest-38/)** (ACB (US) · MCAP $256M · Tender Offers · Issue #38): Offer $5 per share implied (maximum consideration $6). Curaleaf raised its hostile cash-and-stock bid for Aurora Cannabis (ACB) to $1 in cash plus 0.4013 CURLF shares per share, implying $5 per share with a maximum of $6, up from an August bid…
- **[Wecon Holdings Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (1793.HK (HK) · MCAP $217M · Tender Offers · Issue #38): Wecon Holdings Limited (1793.HK) extended its exclusivity period with a potential purchaser to 30 November 2026 (monthly update announcement pursuant to Rule 3.7 of the Takeovers Code).
- **[Steyr Motors AG](https://specialsitsdigest.com/special-situations-digest-38/)** (4X0.DE (DE) · MCAP $209M · Tender Offers · Issue #38): Offer EUR 39.00 · premium 28.9%. Red Cat, through its Austrian subsidiary SMOT Acquisition GmbH, launched a voluntary public cash offer for all 5.3 million shares of Steyr Motors AG at EUR 39.00 (~$44) per share, a 28.9%…
- **[SoundThinking, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (SSTI (US) · MCAP $111M · Tender Offers · Issue #38): Offer $8.00 per Share in cash plus one CVR · premium approximately. Transom Signal MergerSub, Inc., a Transom Capital Group vehicle, commenced a tender offer for all SoundThinking, Inc. (SSTI) shares at $8.00 per share in cash plus one non-transferable CVR…
- **[iFamilySC Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (114840.KQ (KR) · MCAP $105M · Tender Offers · Issue #38): Offer KRW 12,000. Welliant Co., Ltd., wholly owned by Japan's Marubeni, launched a cash tender offer for iFamilySC Co., Ltd. (114840.KQ), operator of Rom&nd, at KRW 12,000 per share, a 42.5% premium to the…
- **[eSOL Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (4420.T (JP) · MCAP $102M · Tender Offers · Issue #38): Offer ¥820. K.K. BCJ-110's tender offer for eSOL common stock (September 2 to October 19, 2026, 30 business days) succeeded; all 12.8 million tendered shares will be purchased.
- **[PLC S.p.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (PLC.MI (IT) · MCAP $89M · Tender Offers · Issue #38): Offer EUR 3.08. Pendant Power S.p.A. will now own 88.1% of PLC S.p.A. (PLC.MI) following the provisional results of its mandatory full tender offer at EUR 3.08 per share.

### Going-Private (https://specialsitsdigest.com/going-private/)

- **[Universal Music Group](https://specialsitsdigest.com/special-situations-digest-39/)** (UMG.AS (NL) · MCAP $31.8B · Going-Private · Issue #39): Universal Music Group (UMG.AS) held talks earlier this year with Apollo Global Management, TPG, and Blackstone regarding a potential delisting from the Amsterdam stock exchange.
- **[Global Payments](https://specialsitsdigest.com/special-situations-digest-39/)** (GPN (US) · MCAP $25.6B · Going-Private · Issue #39): Shares of Global Payments (GPN) climbed 11% Friday, October 30, 2026, their best day since February, after reports CD&R is working on a take-private with GTCR, its largest outside…
- **[GFL Environmental Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (GFL.TO (CA) · MCAP $19.6B · Going-Private · Issue #39): Large private equity groups have expressed interest in a potential take-private of GFL Environmental (GFL.TO) valued around $26 billion to more than $30 billion including debt.
- **[Penske Automotive Group, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PAG (US) · MCAP $13.9B · Going-Private · Issue #39): Offer $212.00 · premium 8.8%. Penske Corporation and Mitsui are taking Penske Automotive Group (PAG) private in a cash merger valued at an enterprise value of $16.3 billion.
- **[Intertek Group PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (ITRK.L (UK) · MCAP $12.1B · Going-Private · Issue #39): EQT is taking Intertek Group PLC (ITRK.L) private following shareholder approval.
- **[ADT Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (ADT (US) · MCAP $7.2B · Going-Private · Issue #39): Offer $10.00 · premium 45.6%. ADT signed a definitive agreement to be acquired by Thrive Holdings in an all-cash transaction at $10.00 per share.
- **[Challenger Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (CGF.AX (AU) · MCAP $5.7B · Going-Private · Issue #39): Offer A$11.80. Challenger Limited (CGF.AX) rejected a nonbinding offer from its largest shareholder, TAL Dai-ichi Life, to acquire the remaining 79.5% of ordinary shares for $11.80 per share in cash via a…
- **[Steadfast Group Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (SDF.AX (AU) · MCAP $4.5B · Going-Private · Issue #39): Steadfast Group Ltd (SDF.AX) is subject to a proposed scheme of arrangement under which Starboard BidCo, an entity indirectly owned by funds affiliated with Dragoneer and KKR, would acquire…
- **[Accelerant Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (ARX (US) · MCAP $4.3B · Going-Private · Issue #39): Offer $20.25 · premium 49%. Cherry Tree BidCo, an affiliate of Thoma Bravo Discover Fund V, will take Accelerant Holdings (ARX) private for $20.25 per share in cash, plus a potential ticking amount, under a merger…
- **[Guotai Junan International Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1788.HK (HK) · MCAP $3.5B · Going-Private · Issue #39): Guotai Haitong Financial Holdings Limited is moving to privatize Guotai Junan International Holdings Limited (1788.HK) via a scheme of arrangement under Section 673 of the Companies…
- **[Surgery Partners, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SGRY (US) · MCAP $3.0B · Going-Private · Issue #39): HealthSpan Partners, a contractual affiliate and supporting organization of Bon Secours Mercy Health, will take Surgery Partners, Inc. (SGRY) private in a transaction with an enterprise…
- **[Ingenia Communities Group](https://specialsitsdigest.com/special-situations-digest-39/)** (INA.AX (AU) · MCAP $1.5B · Going-Private · Issue #39): Offer A$5.45 cash per stapled security (up to $5.50 including the Permitted Distribution). Ingenia Communities Group (INA.AX) has two rival non-binding cash proposals, each by scheme of arrangement.
- **[Kernel Holding](https://specialsitsdigest.com/special-situations-digest-39/)** (KER.WA (PL) · MCAP $1.5B · Going-Private · Issue #39): Offer PLN 19.93. Four minority investors are challenging the CSSF decision that set the price for Namsen's mandatory repurchase of Kernel Holding (KER.WA) shares at PLN 19.93 per share.
- **[Wendy's](https://specialsitsdigest.com/special-situations-digest-39/)** (WEN (US) · MCAP $1.4B · Going-Private · Issue #39): Offer $7.35 · premium 19%. Trian Fund Management and partners offered $7.35 per share in cash to take Wendy's (WEN) private in an unsolicited proposal valuing the company at $1.4 billion.
- **[Spire Healthcare Group plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SPI.L (UK) · MCAP $1.3B · Going-Private · Issue #39): Shareholders of Spire Healthcare Group plc (SPI.L) approved the recommended 250 pence per share cash take-private by Tulip UK Bidco Limited, the bid vehicle of a consortium of funds linked…
- **[Utz Brands, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (UTZ (US) · MCAP $1.3B · Going-Private · Issue #39): Offer $14.25 · premium 91% · closes Nov 30, 2026. Intersnack Group GmbH & Co. KG is taking Utz Brands, Inc. (UTZ) private in a cash merger at $14.25 per Class A share.
- **[Harworth Group PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (HWG.L (UK) · MCAP $807M · Going-Private · Issue #39): Offer 187p (as announced 14 Oct). Peel Pepper (UK) Limited (BidCo), an indirect wholly owned subsidiary of Peel Holdings Group Limited, is acquiring Harworth Group PLC (HWG.L) through its unconditional best and final cash…
- **[Priority Technology Holdings, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PRTH (US) · MCAP $646M · Going-Private · Issue #39): Offer $8.05 · premium approximately. WD Capital Partners Parent Inc., a vehicle controlled by Chairman and CEO Thomas Priore, will take Priority Technology Holdings (PRTH) private for $8.05 per share in cash, representing an…
- **[baudroie, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (4413.T (JP) · MCAP $583M · Going-Private · Issue #39): Offer ¥2,970 · premium 3.8%. BCPE Neon Cayman, L.P. (Bain Capital) is taking baudroie, Inc. (4413.T) private via a share consolidation that will cash out remaining minority shareholders at ¥2,970 (~$19) per share.
- **[Dine Brands Global](https://specialsitsdigest.com/special-situations-digest-39/)** (DIN (US) · MCAP $445M · Going-Private · Issue #39): Offer $39 per share · premium approximately. Cobblers Cove Capital and Arkhouse Management submitted an unsolicited cash offer of $39 per share to take Dine Brands Global (DIN) private.
- **[Bourrelier Group SA](https://specialsitsdigest.com/special-situations-digest-39/)** (ALBOU.PA (FR) · MCAP $408M · Going-Private · Issue #39): M14 is seeking to take Bourrelier Group SA (ALBOU.PA) private via a public delisting offer.
- **[Mobico Group PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (MCG.L (UK) · MCAP $359M · Going-Private · Issue #39): Offer GBP 0.46 · premium approximately. Leita Mobility, a subsidiary of Autobuses de León, agreed to acquire Mobico Group PLC (MCG.L) for 46 pence per share in cash through a scheme of arrangement.
- **[Public Financial Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0626.HK (HK) · MCAP $324M · Going-Private · Issue #39): Offer HK$2.50 · closes Dec 7, 2026. Public Bank Berhad proposes to take its 73.23%-owned Public Financial Holdings Limited (0626.HK) private via a cash scheme of arrangement at HK$2.50 per share.
- **[Get Nice Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0064.HK (HK) · MCAP $310M · Going-Private · Issue #39): closes Nov 5, 2026. Honeylink Agents Limited is taking Get Nice Holdings Limited (0064.HK) private via a scheme of arrangement.
- **[Kenmare Resources PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (KMR.L (UK) · MCAP $271M · Going-Private · Issue #39): International Resources Holdings has made a non-binding possible cash offer for Kenmare Resources (KMR).
- **[Lifecore Biomedical, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (LFCR (US) · MCAP $242M · Going-Private · Issue #39): Offer $6.28. Webster Equity Partners is taking Lifecore Biomedical, Inc. (LFCR) private via a statutory merger for $6.28 per common share in cash plus one contingent value right (CVR) per share.
- **[JPMC](https://specialsitsdigest.com/special-situations-digest-39/)** (3276.T (JP) · MCAP $238M · Going-Private · Issue #39): Offer 2,270 yen. Amsterdam1 and Amsterdam2 are taking JPMC (3276.T) private via a management buyout, paying minority holders 2,270 yen per share in cash.
- **[OUE Healthcare Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (5WA.SI (SG) · MCAP $170M · Going-Private · Issue #39): Treasure International Holdings Pte. Ltd., an OUE Limited subsidiary that controls about 89.68% of the shares, is seeking to take OUE Healthcare Limited (5WA.SI) private by acquiring all…
- **[Xponential Fitness](https://specialsitsdigest.com/special-situations-digest-39/)** (XPOF (US) · MCAP $158M · Going-Private · Issue #39): Offer $5.61 to $7.00 per share in cash. Fund 1 Investments delivered a non-binding proposal on October 30, 2026, to acquire Xponential Fitness (XPOF) for $5.61 to $7.00 per share in cash, stating its willingness to propose that…
- **[SK Signet Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (260870.KS (KR) · MCAP $137M · Going-Private · Issue #39): SK Inc. agreed to sell SK Signet Inc. (260870.KS) to SK Electlink, an EV-charging platform controlled by Anchor Equity Partners, for up to KRW200 billion, as part of a deal in which the…
- **[First Tin PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (1SN.L (UK) · MCAP $94M · Going-Private · Issue #39): Metals X submitted an unsolicited, indicative and non-binding cash proposal to acquire the First Tin PLC (1SN.L) shares it does not already own for 15 pence per share.
- **[Invesque Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (IVQ.TO (CA) · MCAP $88M · Going-Private · Issue #39): Offer C$0.101. IVQ Acquisition Inc., a purchaser managed by Magnetar Financial, will pay US$0.101 per share in cash, equivalent to C$0.143 using the September 29, 2026 exchange rate, to take Invesque Inc.…
- **[Pininfarina](https://specialsitsdigest.com/special-situations-digest-39/)** (PINF.MI (IT) · MCAP $87M · Going-Private · Issue #39): PF Holdings is attempting to delist Pininfarina (PINF.MI) from Borsa Italiana via a takeover bid (OPA) open until November 20.
- **[Alternative Income REIT PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (AIRE.L (UK) · MCAP $75M · Going-Private · Issue #39): Offer 70 pence. Glenstone REIT PLC's final recommended cash offer for Alternative Income REIT PLC is 70 pence per share in cash; terms are final and will not be increased.
- **[Helbor Empreendimentos S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (HBOR3.SA (BR) · MCAP $37M · Going-Private · Issue #39): Offer R$ 2.73. HBR Realty Empreendimentos Imobiliários S.A. is taking Helbor Empreendimentos S.A. (HBOR3.SA) private after acquiring 111.3 million common shares, or 83.16% of share capital, at R$ 2.73 per…
- **[OTS Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (OTS.SI (SG) · MCAP $28M · Going-Private · Issue #39): BCS Development Pte. Ltd. proposes to take OTS Holdings Limited (OTS.SI) private by acquiring all issued ordinary shares via a scheme of arrangement.
- **[Arandu Investimentos S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (ARND3.SA (BR) · MCAP $17M · Going-Private · Issue #39): In the Arandu Investimentos S.A. (ARND3.SA) delisting tender, because shareholders holding more than two-thirds of qualified shares sold or consented to deregistration, the company will…
- **[Telestrada S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (TLS.WA (PL) · MCAP $13M · Going-Private · Issue #39): Offer PLN 25.12. A group including CEO Jacek Lichota is attempting to buy out minority shareholders and delist Telestrada S.A. (TLS.WA) with a cash tender offer of PLN 25.12 per share (wezwanie).
- **[Toyo Ventures Holdings Berhad](https://specialsitsdigest.com/special-situations-digest-39/)** (TOYOVEN.KL (MY) · MCAP $10M · Going-Private · Issue #39): Toyo Ventures Holdings Berhad's substantial shareholders Eng Lian (L) Inc and Bukit Asa Sdn Bhd have proposed a selective capital reduction and repayment to privatize the company.
- **[GFL Environmental Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (GFL (US) · MCAP $16.0B · Going-Private · Issue #38): GFL Environmental Inc. has received proposals from two competing buyer groups.
- **[Covestro AG](https://specialsitsdigest.com/special-situations-digest-38/)** (1COV.DE (DE) · MCAP $14.1B · Going-Private · Issue #38): Offer €59.46. XRG P.J.S.C. provided additional bank security via Deutsche Bank AG to cover potential increases to the squeeze-out cash compensation for Covestro AG (1COV.DE).
- **[The AES Corporation](https://specialsitsdigest.com/special-situations-digest-38/)** (AES (US) · MCAP $10.7B · Going-Private · Issue #38): Horizon Merger Sub, Inc. is merging with The AES Corporation (AES) to take the power generation and utility company private.
- **[QIAGEN N.V.](https://specialsitsdigest.com/special-situations-digest-38/)** (QGEN (US) · MCAP $10.4B · Going-Private · Issue #38): Offer €46.50 · premium 40.3%. Crown NL Bidco B.V., indirectly controlled by EQT XI with ADIA and CPP Investments co-investors, agreed to offer €46.50 (~$52) per QIAGEN N.V. (QGEN) share in cash in a recommended tender…
- **[Cleanaway Waste Management](https://specialsitsdigest.com/special-situations-digest-38/)** (CWY.AX (AU) · MCAP $4.7B · Going-Private · Issue #38): Offer AU$3.095 · premium 35%. Sedum Group, backed by EQT Infrastructure, will buy Cleanaway Waste Management (CWY.AX) by a cash scheme of arrangement at A$3.095 per share, implying an enterprise value of about A$9.3…
- **[Steadfast Group Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (SDF.AX (AU) · MCAP $4.5B · Going-Private · Issue #38): closes Dec 22, 2026. Starboard BidCo Pty Ltd, indirectly owned by Dragoneer- and KKR-affiliated funds and vehicles, is acquiring Steadfast Group (SDF.AX) by scheme of arrangement for A$6.00 cash per share, less…
- **[Integer Holdings Corporation](https://specialsitsdigest.com/special-situations-digest-38/)** (ITGR (US) · MCAP $4.3B · Going-Private · Issue #38): Integer Holdings Corporation (ITGR) stockholders approved the merger agreement with Armstrong Parent, Inc. at a special meeting held October 21, 2026.
- **[LXP Industrial Trust](https://specialsitsdigest.com/special-situations-digest-38/)** (LXP (US) · MCAP $3.6B · Going-Private · Issue #38): Offer USD 60.00. LXP Industrial Trust (LXP) shareholders vote on October 26, 2026 at 9:00 a.m. ET on its merger with Leopard REIT LLC, a vehicle of Brookfield and CPPIB, at $61.20 per share in cash under a…
- **[Reliance Worldwide Corporation Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (RWC.AX (AU) · MCAP $2.4B · Going-Private · Issue #38): Offer US$3.38. Brookfield Capital Partners LLC will acquire 100% of Reliance Worldwide Corporation Limited (RWC.AX) for US$3.38 cash per share by scheme of arrangement, valuing the company at $2.53…
- **[PT Bank CIMB Niaga Tbk](https://specialsitsdigest.com/special-situations-digest-38/)** (BNGA.JK (ID) · MCAP $2.3B · Going-Private · Issue #38): Offer 1,550 rupiah per share · premium 30%. On October 22, 2026, CIMB Group categorically denied plans to privatise PT Bank CIMB Niaga Tbk (BNGA.JK), saying it had made no decision and tabled no formal proposal.
- **[Yinson Holdings Bhd](https://specialsitsdigest.com/special-situations-digest-38/)** (7293.KL (MY) · MCAP $1.5B · Going-Private · Issue #38): The Securities Commission Malaysia extended the deadline to November 30 for MISC Bhd and Employees Provident Fund to announce if they intend to take Yinson Holdings Bhd (7293.KL) private.
- **[Gamma Communications plc](https://specialsitsdigest.com/special-situations-digest-38/)** (GAMA.L (UK) · MCAP $1.3B · Going-Private · Issue #38): Offer 1,120 pence per Gamma Share. Bradbury Bidco Limited, an Epiris GP III vehicle, is taking Gamma Communications plc (GAMA.L) private by scheme of arrangement at 1,120 pence per share in cash, valuing the equity at about…
- **[Harworth Group](https://specialsitsdigest.com/special-situations-digest-38/)** (HWG.L (UK) · MCAP $820M · Going-Private · Issue #38): Offer 187p. Peel Holdings is taking Harworth Group (HWG.L) private in a cash acquisition valuing the company at £631.7 million (~$845M).
- **[Ashtead Technology Holdings plc](https://specialsitsdigest.com/special-situations-digest-38/)** (AT.L (UK) · MCAP $654M · Going-Private · Issue #38): Offer 615 pence · premium 80.9%. Bidco, controlled by funds managed by Ember Infrastructure Management, LP, will acquire Ashtead Technology for 615 pence per share in cash.
- **[Weave Communications, Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (WEAV (US) · MCAP $591M · Going-Private · Issue #38): Weave stockholders approved adoption of the merger agreement at the October 22, 2026 special meeting: 58,845,446 for, 2,324,059 against, 42,770 abstain.
- **[oOh!media Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (OML.AX (AU) · MCAP $568M · Going-Private · Issue #38): Offer A$1.68. OOH BidCo Pty Ltd, an I Squared Capital vehicle, proposes to acquire oOh!media Limited (OML.AX) by scheme of arrangement for A$1.68 per share in cash. oOh!media separately paid an A$0.02…
- **[Mobico Group](https://specialsitsdigest.com/special-situations-digest-38/)** (MCG.L (UK) · MCAP $329M · Going-Private · Issue #38): Offer 46 pence · premium 15%. The Cosmen family (26% of Mobico Group, MCG.L) and Asterion are finalizing a bid through Autobuses de Leon (AdL), where the family holds a majority, for 100% of Mobico at 46 pence per…
- **[Digital Hearts Holdings Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (3676.T (JP) · MCAP $152M · Going-Private · Issue #38): Offer ¥1,060 · premium 41.0%. Sandbox Inc. is taking Digital Hearts Holdings (3676.T) private via a management buyout at ¥1,060 per share, a 40.96% premium over the August 5 close.
- **[Seri Industrial S.p.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (SERI.MI (IT) · MCAP $135M · Going-Private · Issue #38): Confconsumatori APS submitted a complaint to Consob on October 22, 2026 concerning the proposed merger of Seri Industrial into its parent SE.R.I. S.p.A. and the resulting delisting.
- **[Maoye International Holdings Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (848.HK (HK) · MCAP $115M · Going-Private · Issue #38): Offer HK$0.208 · premium approximately. W.F Group Limited proposes to take Maoye International Holdings Limited (848.HK) private for HK$0.208 per share in cash via a scheme of arrangement.
- **[ART VIVANT Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (7523.T (JP) · MCAP $109M · Going-Private · Issue #38): Offer ¥1,900.00. Orsay Co., Ltd. will squeeze out remaining shareholders of ART VIVANT Co., Ltd. (7523.T) at JPY 1,900 (~$12) per share via a share consolidation.
- **[ArcelorMittal South Africa](https://specialsitsdigest.com/special-situations-digest-38/)** (ACL.JO (ZA) · MCAP $103M · Going-Private · Issue #38): Bloomberg reported on October 21, 2026, citing people familiar with the talks, that the IDC had reached an initial understanding to take control of ArcelorMittal South Africa (ACL.JO)…
- **[Comvita](https://specialsitsdigest.com/special-situations-digest-38/)** (CVT.NZ (NZ) · MCAP $59M · Going-Private · Issue #38): An offshore party made a conditional, unsolicited, and non-binding proposal to acquire all shares of Comvita (CVT.NZ) at a significant premium to the current share price.
- **[Eonmetall Group Berhad](https://specialsitsdigest.com/special-situations-digest-38/)** (7217.KL (MY) · MCAP $49M · Going-Private · Issue #38): Offer RM0.45. Eonmetall Group Berhad (7217.KL) will go private through a selective capital reduction and repayment paying RM0.45 cash per eligible share.
- **[Noumi Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (NOU.AX (AU) · MCAP $23M · Going-Private · Issue #38): Offer A$0.1234 · premium 30%. Arrovest Pty Ltd, Noumi's major shareholder, will take Noumi Limited (NOU.AX) private by scheme of arrangement, paying A$0.1234 cash per share to other holders, 30.0% above the 30-day VWAP.
- **[Mahube Infrastructure Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (MHB.JO (ZA) · MCAP $20M · Going-Private · Issue #38): A consortium including CEO Gontse Moseneke is seeking to acquire all ordinary shares of Mahube Infrastructure Limited (MHB.JO) not already held by the group.

### Spin-Offs (https://specialsitsdigest.com/spinoffs/)

- **[Flex Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (FLEX (US) · MCAP $32.0B · Spin-Offs · Issue #39): Flex reported Q2 revenue of $8.5 billion, up 25% year over year, with record adjusted EPS of $1.18, up 49%.
- **[International Paper Co](https://specialsitsdigest.com/special-situations-digest-39/)** (IP (US) · MCAP $18.3B · Spin-Offs · Issue #39): International Paper is preparing to spin off its Packaging Solutions EMEA business as a separate company to be named DS Smith PLC. Q3 2026 net loss widened to $1.13 billion from $1.10…
- **[Associated British Foods](https://specialsitsdigest.com/special-situations-digest-39/)** (ABF.L (UK) · MCAP $17.6B · Spin-Offs · Issue #39): Associated British Foods (ABF.L) is spinning off its Primark fashion arm in a retail demerger.
- **[UPM-Kymmene Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (UPM.HE (FI) · MCAP $13.4B · Spin-Offs · Issue #39): closes Oct 31, 2026. UPM-Kymmene Corporation (UPM.HE) is spinning off WISA Group Plc, with shares expected to begin trading on Nasdaq Helsinki on or about November 2, 2026.
- **[Thyssenkrupp](https://specialsitsdigest.com/special-situations-digest-39/)** (TKA.DE (DE) · MCAP $10.2B · Spin-Offs · Issue #39): Thyssenkrupp (TKA.DE) listed TK Accelis on the Prime Standard of the Frankfurt Stock Exchange on October 28, 2026, with an initial valuation of 1.77 billion euros, completing the partial…
- **[Ramsay Health Care](https://specialsitsdigest.com/special-situations-digest-39/)** (RHC.AX (AU) · MCAP $9.0B · Spin-Offs · Issue #39): Ramsay Health Care (RHC.AX) will distribute its 52.79% stake in Ramsay Santé to shareholders via a demerger.
- **[Stora Enso Oyj](https://specialsitsdigest.com/special-situations-digest-39/)** (STEAV.HE (FI) · MCAP $8.4B · Spin-Offs · Issue #39): closes Mar 31, 2027. Stora Enso's (STEAV.HE) Board approved a cross-border partial demerger plan moving its Swedish forest assets business into Bergslagets Skogar AB, to be incorporated in the demerger.
- **[KBR, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (KBR (US) · MCAP $4.8B · Spin-Offs · Issue #39): KBR, Inc. (KBR) plans to spin off its Mission Technology Solutions business as a separate entity called Trinzic on January 4, 2027.
- **[NGEx Minerals Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (NGEX.TO (CA) · MCAP $3.3B · Spin-Offs · Issue #39): NGEx Minerals Ltd. (NGEX.TO) shareholders approved the spin-off of Valiente Resources Inc. at a special meeting on October 29, 2026.
- **[Anant Raj Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ANANTRAJ.NS (IN) · MCAP $1.7B · Spin-Offs · Issue #39): Anant Raj Limited (ANANTRAJ.NS) is separating its data center and cloud business into a new listed entity, Ashok Cloud Ltd., via a composite scheme of arrangement.
- **[Astra Microwave Products Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (532493.BO (IN) · MCAP $1.6B · Spin-Offs · Issue #39): Astra Microwave announced a scheme of arrangement under Regulation 30 (LODR) via BSE filing dated 2026-10-29.
- **[China Travel International Investment Hong Kong Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0308.HK (HK) · MCAP $808M · Spin-Offs · Issue #39): China Travel International Investment Hong Kong Limited (0308.HK) is spinning off its subsidiary HKM Culture and Tourism via a distribution-in-specie.
- **[Gold X2 Mining Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (AUXX.V (CA) · MCAP $412M · Spin-Offs · Issue #39): Gold X2 Mining Inc. (AUXX.V) will spin out a 1.0% net smelter return royalty on the Moss Gold Project to a subsidiary, 1602630 B.C. Ltd. (SpinCo), via a plan of arrangement.
- **[EFC (I) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (512008.BO (IN) · MCAP $255M · Spin-Offs · Issue #39): EFC (I) Limited (512008.BO) is proceeding with a Scheme of Arrangement under which its wholly owned subsidiary EFC Limited (the demerged company) demerges its undertaking into listed EFC…
- **[Tilak Ventures Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (503663.BO (IN) · MCAP $17M · Spin-Offs · Issue #39): Tilak Ventures' board approved on October 27, 2026 the demerger of its Commodities (Trading) Activities division into Tilak Jewels Limited.
- **[Abbott Laboratories](https://specialsitsdigest.com/special-situations-digest-38/)** (ABT (US) · MCAP $177.3B · Spin-Offs · Issue #38): Abbott Laboratories (ABT) will spin off its nutrition business into an independent publicly traded company by distributing shares of the new entity to current shareholders.
- **[Kakao Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (035720.KS (KR) · MCAP $10.1B · Spin-Offs · Issue #38): closes Jan 1, 2027. Kakao Corp. (035720.KS) plans to complete its spin-off on January 1, 2027, following an extraordinary general shareholders' meeting on December 17, and then to relist KakaoAI and change the…
- **[Thyssenkrupp AG](https://specialsitsdigest.com/special-situations-digest-38/)** (TKA.DE (DE) · MCAP $9.9B · Spin-Offs · Issue #38): Thyssenkrupp AG (TKA.DE) is spinning off a 49% interest in TK Accelis Group AG & Co. KGaA.
- **[Madison Square Garden Sports Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (MSGS (US) · MCAP $9.4B · Spin-Offs · Issue #38): Madison Square Garden Sports Corp. (MSGS) plans to distribute its New York Rangers business as MSG Rangers Corp. on October 26, 2026.
- **[Ramsay Générale de Santé](https://specialsitsdigest.com/special-situations-digest-38/)** (GDS.PA (FR) · MCAP $1.2B · Spin-Offs · Issue #38): closes Dec 9, 2026. Ramsay Health Care Limited (RHC.AX) plans to distribute its 52.79% stake in Ramsay Générale de Santé (GDS.PA) to its shareholders in specie.
- **[Aspo Plc](https://specialsitsdigest.com/special-situations-digest-38/)** (ASPO.HE (FI) · MCAP $239M · Spin-Offs · Issue #38): closes Dec 31, 2026. Aspo Plc (ASPO.HE) will spin off its shipping business into a new listed entity, ESL Shipping Group Plc, via a partial demerger.
- **[White Gold Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (WGO.V (CA) · MCAP $223M · Spin-Offs · Issue #38): White Gold Corp. (WGO.V) subsidiary W2 Critical Minerals Corp. closed two tranches of its fully subscribed C$10 million spin-out financing: 23,055,000 subscription receipts at C$0.25 for…
- **[HYTN Innovations Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (HYTN.CN (CA) · MCAP $10M · Spin-Offs · Issue #38): HYTN Innovations Inc. (HYTN.CN) will hold an annual general and special meeting on November 12, 2026 at 11:00 a.m. (Vancouver time) in Vancouver, BC.
- **[German Tech Holding GmbH & Co. KGaA](https://specialsitsdigest.com/special-situations-digest-38/)** (GTH.DE (DE) · MCAP $2M · Spin-Offs · Issue #38): German Tech Holding GmbH & Co. KGaA (GTH.DE) is reviewing a 2027 separation of its legacy VC portfolio, TGS24 and outstanding SGT Group receivables into a new German Startups Group.
- **[Pryce Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (PPC.PS (PH) · Spin-Offs · Issue #38): Pryce Corp. (PPC.PS) is assessing a listing of Pryce Gases Inc. shares on the Philippine Stock Exchange via a property dividend declaration.
- **[G3 Goldfields Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (GTRE.CN (CA) · Spin-Offs · Issue #38): G3 Goldfields received final CSE listing approval and shares commence trading October 26, 2026 under ticker GTRE.
- **[Johnson & Johnson](https://specialsitsdigest.com/special-situations-digest-37/)** (JNJ (US) · MCAP $599.1B · Spin-Offs · Issue #37): J&J plans to spin off its hips and knees business, DePuy Synthes, into a standalone company. CFO Joe Wolk said J&J remains on track for a mid-2027 separation for DePuy Synthes.
- **[Eaton Corporation plc](https://specialsitsdigest.com/special-situations-digest-37/)** (ETN (US) · MCAP $152.0B · Spin-Offs · Issue #37): Eaton (ETN) has agreed to separate its Mobility Group and combine it with Dana Incorporated (DAN) in a Reverse Morris Trust transaction, replacing the original standalone spin-off plan.
- **[Flex Ltd.](https://specialsitsdigest.com/special-situations-digest-37/)** (FLEX (US) · MCAP $37.1B · Spin-Offs · Issue #37): Flex (FLEX) intends to distribute approximately 88%–94% of Axiom Solutions International common stock pro rata to its ordinary shareholders. An October 9, 2026 amendment assigns Amazon’s Flex warrant to Amazon.com Services LLC and provides.
- **[AB SKF](https://specialsitsdigest.com/special-situations-digest-37/)** (SKF-B.ST (SE) · MCAP $12.4B · Spin-Offs · Issue #37): AB SKF (SKF-B.ST) plans to distribute all shares in its subsidiary SKF Vertevo AB to existing shareholders through a spin-off. Separately, the second instalment of SKF's dividend, SEK 3.75 per share, went ex-dividend on 14 October 2026.
- **[Kakao](https://specialsitsdigest.com/special-situations-digest-37/)** (035720.KS (KR) · MCAP $10.2B · Spin-Offs · Issue #37): Kakao (035720.KS) proposes a shareholder spin-off into new operating company Kakao AI and surviving investment company Kakao X. Kakao AI will hold the KakaoTalk-centered platform, AI, advertising, commerce and maps businesses.
- **[National Fuel Gas Company](https://specialsitsdigest.com/special-situations-digest-37/)** (NFG (US) · MCAP $7.4B · Spin-Offs · Issue #37): National Fuel Gas Company (NFG) announced on October 14, 2026 that its Board approved a plan to separate its Integrated Upstream and Gathering business (IUG) into a stand-alone public company through a tax-free spin-off.
- **[Azzas 2154 S.A.](https://specialsitsdigest.com/special-situations-digest-37/)** (AZZA3.SA (BR) · MCAP $976M · Spin-Offs · Issue #37): Azzas 2154 S.A. (AZZA3.SA) received unrestricted antitrust approval from CADE to split its business into two independent publicly traded companies.
- **[Hindware Home Innovation Limited](https://specialsitsdigest.com/special-situations-digest-37/)** (HINDWAREAP.NS (IN) · MCAP $156M · Spin-Offs · Issue #37): Hindware Home Innovation Limited (HINDWAREAP.NS) will be dissolved as its consumer products business demerges into HHIL Limited and its building products business amalgamates into Hindware Limited.
- **[AI Financial Corporation](https://specialsitsdigest.com/special-situations-digest-37/)** (AIFC (US) · MCAP $58M · Spin-Offs · Issue #37): AI Financial Corporation (AIFC) is spinning off its biotech segment into a separate public company named Drew Therapeutics. The new entity's lead program holds FDA orphan designation.
- **[Hammer Metals Limited](https://specialsitsdigest.com/special-situations-digest-37/)** (HMX.AX (AU) · MCAP $51M · Spin-Offs · Issue #37): Hammer Metals Limited (HMX.AX) is distributing shares in an unlisted entity, SpinCo, to its securityholders as an in specie demerger distribution and return of capital.
- **[K M Sugar Mills Limited](https://specialsitsdigest.com/special-situations-digest-37/)** (KMSUGAR.NS (IN) · MCAP $28M · Spin-Offs · Issue #37): K M Sugar Mills Limited (KMSUGAR.NS) has demerged its Distillery Division into K M Spirits and Allied Industries Limited via a Scheme of Arrangement.
- **[Brooks Laboratories Limited](https://specialsitsdigest.com/special-situations-digest-37/)** (BROOKS.NS (IN) · MCAP $20M · Spin-Offs · Issue #37): Brooks Laboratories Limited's board approved a Scheme of Arrangement on October 14, 2026 to demerge its Manufacturing Business into wholly owned subsidiary Abridge Speciality Limited.
- **[Medtronic plc](https://specialsitsdigest.com/special-situations-digest-36/)** (MDT (US) · MCAP $112.2B · Spin-Offs · Issue #36): Medtronic shareholders have until 12:00 midnight, New York City time, at the end of October 9, 2026, to tender shares in the MiniMed exchange offer, unless extended or terminated; withdrawal rights expire at the same time.
- **[Comcast Corporation](https://specialsitsdigest.com/special-situations-digest-36/)** (CMCSA (US) · MCAP $76.5B · Spin-Offs · Issue #36): Comcast Corporation (CMCSA) intends to separate into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. The separation is expected to be completed in 2027.
- **[Ramsay Health Care Ltd](https://specialsitsdigest.com/special-situations-digest-36/)** (RHC.AX (AU) · MCAP $8.8B · Spin-Offs · Issue #36): Ramsay Health Care Ltd (RHC.AX) proposes to distribute its entire 52.79% holding in Ramsay Santé, an existing Euronext-listed European hospital operator, pro rata to shareholders through an in-specie distribution under a scheme of.
- **[Corteva](https://specialsitsdigest.com/special-situations-digest-36/)** (CTVA (US) · MCAP $8.8B · Spin-Offs · Issue #36): Corteva (CTVA) shares rose 11% after J.P. Morgan raised the stock to Overweight from Neutral on October 6, 2026, with a December 2027 price target of $19.
- **[MiniMed Group, Inc.](https://specialsitsdigest.com/special-situations-digest-36/)** (MMED (US) · MCAP $5.7B · Spin-Offs · Issue #36): Medtronic plc offered to exchange up to 225,361,295 MiniMed Group, Inc. (MMED) shares, representing 80.1% of MiniMed, for Medtronic ordinary shares.
- **[Maharashtra Seamless Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (MAHSEAMLES.NS (IN) · MCAP $953M · Spin-Offs · Issue #36): Maharashtra Seamless Limited's board approved a demerger. Demerged Undertaking 1 (Mangaon seamless pipe plant and Beed solar plant) goes to MSL Seamless Tubes Limited.
- **[Pricol Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (PRICOLLTD.NS (IN) · MCAP $930M · Spin-Offs · Issue #36): Pricol is a Coimbatore-based auto parts maker with three businesses: driver information systems and connected vehicles, switches and disc brakes, and plastics.
- **[WELL Health Technologies Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (WELL.TO (CA) · MCAP $787M · Spin-Offs · Issue #36): WELL Health Technologies Corp.’s digital health subsidiary WELLSTAR Technologies Corp. commenced trading on the TSX Venture Exchange on 1 October 2026 under the symbol WSTR, following its amalgamation with 1587818 B.C. Ltd.
- **[HEG Advanced Materials](https://specialsitsdigest.com/special-situations-digest-36/)** (HEGAM.NS (IN) · MCAP $466M · Spin-Offs · Issue #36): HEG Advanced Materials shares surged nearly 8% on October 6, touching an intraday high of ₹256.47 on the NSE. The graphite electrodes business is being carved out into HEG Graphite, expected to list by October-end.
- **[Jubilant Agri and Consumer Products Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (JUBLCPL.NS (IN) · MCAP $299M · Spin-Offs · Issue #36): Jubilant Agri and Consumer Products Limited (JUBLCPL.NS) is advancing a demerger into Jubilant Agri Solutions Limited. The NCLT Allahabad Bench issued an order on October 08, 2026, directing that notices be issued to statutory and.
- **[India Glycols Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (INDIAGLYCO.NS (IN) · MCAP $222M · Spin-Offs · Issue #36): closes Sep 1, 2026. NCLT Allahabad Bench sanctioned the Scheme of Arrangement on 17th July 2026. Scheme became effective from 1st September 2026. Share entitlement ratio: 1 Ennature Bio Pharma share for every 3 India Glycols shares held; 1 IGL Spirits share.
- **[Critical One Energy Inc.](https://specialsitsdigest.com/special-situations-digest-36/)** (CRTL.CN (CA) · MCAP $47M · Spin-Offs · Issue #36): Critical One Energy Inc. intends to transfer the Kenora Uranium Property and its Namibia uranium and copper interests to a new company proposed to be named Critical Two Energy Inc.
- **[Veranda Learning Solutions Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (VERANDA.NS (IN) · MCAP $30M · Spin-Offs · Issue #36): Veranda Learning Solutions Limited (VERANDA.NS) has constituted the board of its subsidiary J.K. Shah Commerce Education Limited (JSCEL) as part of a demerger.
- **[Core Critical Metals Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (CCMC.V (CA) · MCAP $18M · Spin-Offs · Issue #36): closes Oct 9, 2026. Core Critical Metals Corp. (CCMC.V) is executing a two-asset spin-off through a plan of arrangement. Shareholders of record as of October 8, 2026, will receive one new CCMC share, one Spinco1 share, and one Spinco2 share for each existing.
- **[Bhagyanagar India Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (BHAGYANGR.NS (IN) · MCAP $14M · Spin-Offs · Issue #36): Bhagyanagar India Limited (BHAGYANGR.NS) is spinning off its copper business into Tieramet Limited via a share distribution (Composite Scheme of Arrangement).
- **[Magnum Ventures Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (532896.BO (IN) · MCAP $12M · Spin-Offs · Issue #36): Magnum Ventures Limited (532896.BO) is spinning off its paper business into Magnum Paperz Limited via a demerger scheme. Shareholders will receive two Magnum Paperz shares for every 10 Magnum Ventures shares held.
- **[Addex Therapeutics Ltd](https://specialsitsdigest.com/special-situations-digest-36/)** (ADXN (US) · MCAP $4M · Spin-Offs · Issue #36): Addex Therapeutics Ltd (ADXN) announced on October 8, 2026 that its spin-out Neurosterix completed Phase 1 clinical studies of NTX-253, an M4 positive allosteric modulator being developed for schizophrenia.
- **[Algo8 AI Inc.](https://specialsitsdigest.com/special-situations-digest-36/)** (AIOS.CN (CA) · Spin-Offs · Issue #36): Algo8 AI Inc. received final approval from the Canadian Securities Exchange to list its common shares under symbol AIOS. Shares are expected to begin trading on the CSE on or about October 13, 2026.
- **[Triveni Power Transmission Limited](https://specialsitsdigest.com/special-situations-digest-36/)** (TRIVENIPT.NS (IN) · Spin-Offs · Issue #36): Triveni Power Transmission Limited (TRIVENIPT.NS) will begin trading on the BSE and NSE on October 12, 2026, following listing approvals received October 8, 2026.
- **[Siemens Energy AG](https://specialsitsdigest.com/special-situations-digest-35/)** (ENR.DE (DE) · MCAP $139.0B · Spin-Offs · Issue #35): The cited report says Siemens Energy AG (ENR.DE) plans to separate its Transformation of Industry division into a standalone company named Omterra. The unit recorded EUR 5.7 billion in revenue and an 11.3% margin in fiscal 2025.
- **[Medtronic](https://specialsitsdigest.com/special-situations-digest-35/)** (MDT (US) · MCAP $110.6B · Spin-Offs · Issue #35): Medtronic announced plans in 2025 to separate its diabetes business, MiniMed. According to the October 1, 2026 Motley Fool article syndicated by the Globe and Mail, Medtronic initially completed an IPO of the unit and recently launched an.
- **[Keurig Dr Pepper Inc](https://specialsitsdigest.com/special-situations-digest-35/)** (KDP (US) · MCAP $41.8B · Spin-Offs · Issue #35): KDP appointed Russ Torres as CEO of newly formed coffee division on October 1, 2026. Torres currently President and COO of Kimberly-Clark (KMB), starts November 3, 2026.
- **[Aktiebolaget SKF](https://specialsitsdigest.com/special-situations-digest-35/)** (SKF-B.ST (SE) · MCAP $12.1B · Spin-Offs · Issue #35): SKF (SKF) will distribute all shares of its wholly owned subsidiary SKF Vertevo AB to shareholders. Five Series A shares in SKF entitle the holder to one Series A share in SKF Vertevo, and five Series B shares in SKF entitle the holder to.
- **[Modine Manufacturing Company](https://specialsitsdigest.com/special-situations-digest-35/)** (MOD (US) · MCAP $9.9B · Spin-Offs · Issue #35): Platinum SpinCo Inc. increased its authorized common stock from 5,000 to 60 million shares with a par value of $0.001 per share (8-K). All existing shares were automatically reclassified to match the number of outstanding common shares of.
- **[Ramsay Health Care Limited](https://specialsitsdigest.com/special-situations-digest-35/)** (RHC.AX (AU) · MCAP $8.9B · Spin-Offs · Issue #35): Ramsay Health Care Limited (RHC.AX) plans to distribute shares of its European healthcare subsidiary, Ramsay Santé, to shareholders via an in-specie demerger. The company expects to release a Demerger Booklet in October 2026.
- **[Sun TV Network Ltd](https://specialsitsdigest.com/special-situations-digest-35/)** (SUNTV.NS (IN) · MCAP $2.5B · Spin-Offs · Issue #35): Sun TV Network (SUNTV.NS) shares reportedly hit a 20% upper circuit at Rs.664.60 following media reports of a possible sports-business demerger. However, in its September 30, 2026 signed exchange clarification, Sun TV described the news as.
- **[Xinyi Solar Holdings Limited](https://specialsitsdigest.com/special-situations-digest-35/)** (968.HK (HK) · MCAP $2.2B · Spin-Offs · Issue #35): Xinyi Solar Holdings Limited (0968.HK), as holding company of Xinyi Energy Holdings Limited (03868.HK), announced a possible spin-off and PRC listing of XYE New Energy Fund on the Shenzhen Stock Exchange.

### Capital Returns (https://specialsitsdigest.com/capital-returns/)

- **[Samsung Electronics](https://specialsitsdigest.com/special-situations-digest-39/)** (005930.KS (KR) · MCAP $1.1T · Capital Returns · Issue #39): Samsung Electronics (005930.KS) approved a third-quarter cash dividend of 4,601 won per share totaling 30 trillion won.
- **[TotalEnergies](https://specialsitsdigest.com/special-situations-digest-39/)** (TTE.PA (FR) · MCAP $209.7B · Capital Returns · Issue #39): TotalEnergies (TTE.PA) may pay an extra dividend in February 2027 if 2026 cash flow reaches $43 billion, exceeding the $42 billion expectation.
- **[Starbucks](https://specialsitsdigest.com/special-situations-digest-39/)** (SBUX (US) · MCAP $120.3B · Capital Returns · Issue #39): Starbucks (SBUX) will resume share buybacks starting in fiscal 2027, after pausing repurchases during its turnaround; buybacks were first suspended in 2022 under former CEO Howard Schultz.
- **[ENI](https://specialsitsdigest.com/special-situations-digest-39/)** (ENI.MI (IT) · MCAP $87.3B · Capital Returns · Issue #39): ENI (ENI.MI) shareholders will receive a €1.3 billion (~$1.4B) extraordinary dividend of €0.46 per share, payable December 9, 2026 with an ex-date of December 7, approved with Q3 2026…
- **[Howmet Aerospace](https://specialsitsdigest.com/special-situations-digest-39/)** (HWM (US) · MCAP $82.0B · Capital Returns · Issue #39): On October 28, 2026, Howmet's board authorized an additional $5 billion for the share repurchase program, bringing total available capacity to $5.397 billion including the remaining $397…
- **[CRH plc](https://specialsitsdigest.com/special-situations-digest-39/)** (CRH (US) · MCAP $57.6B · Capital Returns · Issue #39): CRH announced a new share buyback programme of up to $6 billion, set to run until the end of 2030.
- **[Ambev S.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (ABEV3.SA (BR) · MCAP $41.3B · Capital Returns · Issue #39): Ambev S.A. (ABEV3.SA) approved a buyback of up to 190 million common shares, equal to about 4.7% of its 4,043.5 million free-float shares (shares in circulation, excluding the controlling…
- **[DENSO Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (6902.T (JP) · MCAP $28.7B · Capital Returns · Issue #39): DENSO Corporation (6902.T) will cancel 400 million common treasury shares on November 30, 2026.
- **[Neste](https://specialsitsdigest.com/special-situations-digest-39/)** (NESTE.HE (FI) · MCAP $25.1B · Capital Returns · Issue #39): Neste announced in its Q3 interim report it is changing its dividend policy to target distributing 20-40% of earnings per share as dividends.
- **[Telenor ASA](https://specialsitsdigest.com/special-situations-digest-39/)** (TEL.OL (NO) · MCAP $18.7B · Capital Returns · Issue #39): Telenor ASA (TEL.OL) plans to accelerate its NOK 15 billion (~$1.6B) three-year share buyback program, citing solid program progress, modest leverage, strong cash flow and proceeds from the…
- **[Julius Baer](https://specialsitsdigest.com/special-situations-digest-39/)** (BAER.SW (CH) · MCAP $17.3B · Capital Returns · Issue #39): Julius Baer (BAER) will begin buying back up to CHF 600 million (~$729M) of its own shares on November 2, 2026.
- **[Flowserve Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (FLS (US) · MCAP $9.1B · Capital Returns · Issue #39): Flowserve Corporation (FLS) increased the remaining capacity under its share repurchase program to $500.0 million effective October 26, 2026, from $122.7 million as of September 30.
- **[Simpson Manufacturing Co.](https://specialsitsdigest.com/special-situations-digest-39/)** (SSD (US) · MCAP $7.5B · Capital Returns · Issue #39): Simpson Manufacturing Co. (SSD) approved a $1.0 billion share repurchase authorization effective October 22, 2026.
- **[Churchill Downs Incorporated](https://specialsitsdigest.com/special-situations-digest-39/)** (CHDN (US) · MCAP $5.7B · Capital Returns · Issue #39): Churchill Downs' board approved a new $750 million share repurchase program, announced October 28, 2026.
- **[Ayala Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (AC.PS (PH) · MCAP $5.2B · Capital Returns · Issue #39): Ayala Corporation (AC.PS) will buy back 30.1 million of its own common shares for P650.00 per share in a voluntary self-tender offer.
- **[Laureate Education, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (LAUR (US) · MCAP $4.5B · Capital Returns · Issue #39): Laureate Education, Inc. (LAUR) increased its existing share-repurchase authorization by $150 million.
- **[Banco Macro](https://specialsitsdigest.com/special-situations-digest-39/)** (BMA (AR) · MCAP $4.2B · Capital Returns · Issue #39): Banco Macro (BMA) approved a share buyback program of up to 160.0 billion Argentine pesos to acquire up to 20.0 million Class B registered shares.
- **[Li Ning Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (2331.HK (HK) · MCAP $4.2B · Capital Returns · Issue #39): Li Ning Company Limited announced a board meeting on Thursday, 5 November 2026 to consider and approve the declaration of a special dividend to shareholders.
- **[Jersey Mike's](https://specialsitsdigest.com/special-situations-digest-39/)** (MCAP $4.1B · Capital Returns · Issue #39): Jersey Mike's declared a one-time special cash dividend of $0.35 per Class A share, payable November 19, 2026 to holders of record at the close of business on November 5, 2026.
- **[Air Canada](https://specialsitsdigest.com/special-situations-digest-39/)** (AC.TO (CA) · MCAP $3.7B · Capital Returns · Issue #39): TSX accepted Air Canada's notice of intention to proceed with a normal course issuer bid for up to 25.2 million Class A variable voting shares and Class B voting shares, to be repurchased…
- **[Toyoda Gosei Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (7282.T (JP) · MCAP $3.7B · Capital Returns · Issue #39): Toyoda Gosei (7282.T) will buy back up to ¥30 billion (~$190M) of common stock, representing up to 36 million shares or 6.1% of issued shares (excluding treasury shares).
- **[Dajin Heavy Industry Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (002487.SZ (CN) · MCAP $3.3B · Capital Returns · Issue #39): Chairman and actual controller Jin Xin proposed on October 26, 2026, that Dajin Heavy Industry Co., Ltd. (002487.SZ) buy back up to 10% of its issued H-shares.
- **[Slide Insurance Holdings, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SLDE (US) · MCAP $3.2B · Capital Returns · Issue #39): Slide Insurance Holdings, Inc. (SLDE) declared a one-time special cash dividend of $1.50 per share on October 27, 2026, in addition to its regular quarterly cash dividend of $0.07 per share.
- **[HarbourVest Global Private Equity Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (HVPE.L (UK) · MCAP $3.1B · Capital Returns · Issue #39): HarbourVest Global Private Equity Ltd. (HVPE.L) launched a tender offer to return up to US$400 million to shareholders, subject to approval at a November 16, 2026 EGM.
- **[Hilton Grand Vacations Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (HGV (US) · MCAP $2.9B · Capital Returns · Issue #39): Hilton Grand Vacations Inc. (HGV) entered into an agreement with Deutsche Bank AG, London Branch to repurchase $200 million of its common stock via an accelerated share repurchase (ASR).
- **[DXP Enterprises, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (DXPE (US) · MCAP $2.6B · Capital Returns · Issue #39): DXP Enterprises, Inc. (DXPE) authorized a new share repurchase program of up to $150.0 million or 1.0 million shares.
- **[S-1 Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (012750.KS (KR) · MCAP $2.5B · Capital Returns · Issue #39): S-1 Corp. launched a self-tender offer for up to 4,545,454 of its own shares (11.96% of shares outstanding) at KRW 99,000 per share, about KRW 450 billion in total (about $333 million), a…
- **[Four Corners Property Trust](https://specialsitsdigest.com/special-situations-digest-39/)** (FCPT (US) · MCAP $2.4B · Capital Returns · Issue #39): Four Corners Property Trust (FCPT) authorized its first-ever share repurchase program of up to $100 million and increased its monthly dividend by 3.5% to $0.1265 per share.
- **[Diebold Nixdorf, Incorporated](https://specialsitsdigest.com/special-situations-digest-39/)** (DBD (US) · MCAP $2.3B · Capital Returns · Issue #39): Diebold Nixdorf, Incorporated (DBD) authorized a new share repurchase program of up to $250 million on October 28, 2026.
- **[Íslandsbanki hf.](https://specialsitsdigest.com/special-situations-digest-39/)** (ISB (IS) · MCAP $1.9B · Capital Returns · Issue #39): Íslandsbanki hf. (ISB) received authorization from the Central Bank of Iceland to buy back up to ISK 10 billion (~$82M) of its own shares and reduce its share capital.
- **[Neinor Homes](https://specialsitsdigest.com/special-situations-digest-39/)** (HOME.MC (ES) · MCAP $1.8B · Capital Returns · Issue #39): Neinor Homes' board called an EGM for November 17, 2026 to approve €220 million (~$246M) in dividends through Q2 2027, or €2.26 per share, implying a yield near 13% at the current share…
- **[Chudenko Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (1941.T (JP) · MCAP $1.7B · Capital Returns · Issue #39): Chudenko Corporation (TSE:1941) announced a share repurchase program for up to 6.9 million shares, representing 13.09%, for ¥31,975.02 million (~$203M).
- **[Hyperliquid Strategies Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PURR (US) · MCAP $1.7B · Capital Returns · Issue #39): Hyperliquid Strategies Inc. (PURR) increased its share-repurchase authorization to $100 million from $30 million and extended the program through October 31, 2027.
- **[Cheil Worldwide](https://specialsitsdigest.com/special-situations-digest-39/)** (030000.KS (KR) · MCAP $1.4B · Capital Returns · Issue #39): Cheil Worldwide cancelled all treasury shares equal to 12% of total issued shares, with a book value of KRW 282.8 billion (~$211M).
- **[GoTo Gojek Tokopedia](https://specialsitsdigest.com/special-situations-digest-39/)** (GOTO (ID) · MCAP $1.4B · Capital Returns · Issue #39): GoTo Gojek Tokopedia (GOTO) is repurchasing shares and canceling treasury stock to return capital to shareholders.
- **[Arlo Technologies](https://specialsitsdigest.com/special-situations-digest-39/)** (ARLO (US) · MCAP $1.4B · Capital Returns · Issue #39): Arlo Technologies (ARLO) board approved a $100 million share buyback program.
- **[Tetragon Financial Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TFG.AS (NL) · MCAP $1.2B · Capital Returns · Issue #39): Tetragon Financial Group Limited announced a dividend and an intention to conduct a tender offer.
- **[PROG Holdings, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PRG (US) · MCAP $1.2B · Capital Returns · Issue #39): PROG Holdings announced its intention to enter into an accelerated share repurchase program to repurchase $100 million of its common stock, with transactions expected to be completed in the…
- **[Run Long](https://specialsitsdigest.com/special-situations-digest-39/)** (1808.TW (TW) · MCAP $986M · Capital Returns · Issue #39): Run Long Construction (1808.TW) is returning TWD 2.00 per share to shareholders through a cash capital reduction.
- **[Precinct Properties Group](https://specialsitsdigest.com/special-situations-digest-39/)** (PCT.NZ (NZ) · MCAP $971M · Capital Returns · Issue #39): Precinct Properties Group (PCT.NZ) is returning NZ$103 million (~$58M) in cash via a special distribution of 5.555092 cents per stapled share.
- **[CJ Logistics Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (000120.KS (KR) · MCAP $965M · Capital Returns · Issue #39): CJ Logistics Corporation (000120.KS) plans to distribute 1.1 million treasury shares as an in-kind dividend to shareholders.
- **[Baillie Gifford Japan Trust PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (BGFD.L (UK) · MCAP $890M · Capital Returns · Issue #39): Baillie Gifford Japan Trust PLC (BGFD.L) announced a conditional self-tender offer to buy back up to 25% of its shares in cash if its NAV total return fails to exceed the Topix index over…
- **[Willis Lease Finance Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (WLFC (US) · MCAP $885M · Capital Returns · Issue #39): Willis Lease Finance Corporation (WLFC) increased its quarterly dividend to $0.15 per share and expanded its share repurchase program to $200.0 million.
- **[Datatec](https://specialsitsdigest.com/special-situations-digest-39/)** (DTC.JO (ZA) · MCAP $846M · Capital Returns · Issue #39): Datatec (DTC.JO) paid a special dividend of R29 per share following a Westcon refinancing with General Atlantic.
- **[Genus Power Infrastructures Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (530343.BO (IN) · MCAP $757M · Capital Returns · Issue #39): Genus Power Infrastructures Limited (530343.BO) approved a tender-offer buyback of up to 4.75 million shares, representing up to 1.56% of outstanding equity, at INR312 per share for…
- **[Medplus Health Services Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (MEDPLUS.NS (IN) · MCAP $734M · Capital Returns · Issue #39): Medplus Health Services Limited (MEDPLUS.NS) will hold a board meeting on 2026-11-06 to consider a share buyback.
- **[Enovix Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (ENVX (US) · MCAP $717M · Capital Returns · Issue #39): Enovix Corporation (ENVX) declared a special warrant dividend on October 28, 2026, distributing one warrant for every four common shares held at no cost.
- **[PennyMac Mortgage Investment Trust](https://specialsitsdigest.com/special-situations-digest-39/)** (PMT (US) · MCAP $644M · Capital Returns · Issue #39): PennyMac Mortgage Investment Trust (PMT) increased its common share repurchase authorization to $630 million from $500 million.
- **[Jiangsu Rijiu Optoelectronics Jointstock Co., Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (003015.SZ (CN) · MCAP $498M · Capital Returns · Issue #39): Jiangsu Rijiu Optoelectronics Jointstock Co., Ltd (003015.SZ) plans to repurchase and cancel RMB 100 million to RMB 200 million of shares at no more than RMB 17.98 per share.
- **[TPG RE Finance Trust, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (TRTX (US) · MCAP $480M · Capital Returns · Issue #39): On October 26, 2026, the TPG RE Finance Trust (TRTX) board approved a new share repurchase program authorizing up to $50.0 million of common stock, via open market, privately negotiated…
- **[VRL Logistics Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (539118.BO (IN) · MCAP $479M · Capital Returns · Issue #39): VRL Logistics Ltd (539118.BO) published its offer-opening advertisement on October 26, 2026 for a tender-offer buyback of up to 8.75 million shares, or 5% of outstanding equity, at INR320…
- **[Chuo Spring Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (5992.T (JP) · MCAP $459M · Capital Returns · Issue #39): Chuo Spring Co., Ltd. (5992.T) authorized a share buyback of up to 4.5 million common shares for up to ¥15 billion (~$95M).
- **[Avidia Bancorp](https://specialsitsdigest.com/special-situations-digest-39/)** (AVBC (US) · MCAP $419M · Capital Returns · Issue #39): Avidia Bancorp (AVBC) declared a quarterly cash dividend of $0.06 per share, unchanged after a 20% increase from $0.05 in July, and is executing the $30 million share repurchase program…
- **[NN Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (NNBR (US) · MCAP $371M · Capital Returns · Issue #39): NN Inc. (NNBR) retired all of its preferred stock through debt-for-equity transactions over a four-month period.
- **[Eightco Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (ORBS (US) · MCAP $334M · Capital Returns · Issue #39): Eightco Holdings (ORBS) repurchased over 55 million common shares since August under its $125 million buyback program, representing 12.98% of outstanding stock.
- **[SNDL Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SNDL (US) · MCAP $317M · Capital Returns · Issue #39): SNDL directed management to pursue a possible substantial issuer bid to purchase up to CAD 50.0 million (~$36M) of its shares at no more than CAD 1.92 (US$1.35) per share, subject to board…
- **[SIMPAC Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (009160.KS (KR) · MCAP $225M · Capital Returns · Issue #39): SIMPAC (009160.KS) plans to cancel 5.4 million common shares, representing 8.22% of shares outstanding.
- **[STEP Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (9795.T (JP) · MCAP $211M · Capital Returns · Issue #39): STEP Co., Ltd. (9795.T) raised its fiscal 2026 year-end dividend to ¥47 per share from the prior ¥44 forecast, bringing the full-year dividend to ¥91 versus ¥85 in the prior year.
- **[WildBrain Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (WILD.TO (CA) · MCAP $202M · Capital Returns · Issue #39): WildBrain Ltd. (WILD.TO) is seeking to buy back and cancel up to C$20 million (~$14M) of its common shares via a modified Dutch auction (substantial issuer bid).
- **[Alinma Hospitality REIT Fund](https://specialsitsdigest.com/special-situations-digest-39/)** (4349.SR (SA) · MCAP $185M · Capital Returns · Issue #39): Alinma Hospitality REIT Fund (4349.SR) unitholders will vote on November 8, 2026, to repurchase 10.2 million units, representing 10% of issued units.
- **[Oenon Holdings, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (2533.T (JP) · MCAP $171M · Capital Returns · Issue #39): Oenon Holdings, Inc. (2533.T) raised its dividend on October 29, 2026, increasing its year-end lump-sum dividend forecast by 3 yen to 15 yen.
- **[blueharbor bank](https://specialsitsdigest.com/special-situations-digest-39/)** (MCAP $148M · Capital Returns · Issue #39): blueharbor bank (BLHK) declared a $0.25-per-share special cash dividend to return capital ahead of its pending acquisition by TowneBank for about $154 million.
- **[Helens International Holdings Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (9869.HK (HK) · MCAP $135M · Capital Returns · Issue #39): Helens International Holdings Company Limited (9869.HK) declared a special dividend of RMB0.04743 per ordinary share to be paid from its share premium account.
- **[Alcidion Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ALC.AX (AU) · MCAP $109M · Capital Returns · Issue #39): Alcidion Group Limited (ALC.AX) will repurchase up to 135 million ordinary shares through an on-market share buyback.
- **[EJF Investments Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (EJFI.L (UK) · MCAP $107M · Capital Returns · Issue #39): EJF Investments Limited (EJFI.L) launched a cash tender offer to buy and cancel up to 2.9 million shares, representing 5% of shares in issue.

### Rights Offerings (https://specialsitsdigest.com/rights-offerings/)

- **[Eramet](https://specialsitsdigest.com/special-situations-digest-39/)** (ERA.PA (FR) · MCAP $1.1B · Rights Offerings · Issue #39): Eramet (ERA.PA) intends to launch a €500 million capital increase with preferential subscription rights before year-end 2026.
- **[Novaland](https://specialsitsdigest.com/special-situations-digest-39/)** (NVL (VN) · MCAP $968M · Rights Offerings · Issue #39): premium 4.5%. Novaland (NVL) is conducting a rights offering of nearly 800.7 million shares at VND10,000 ($0.39) per share to raise $309.9 million (rights issue).
- **[UWM Holdings Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (UWMC (US) · MCAP $514M · Rights Offerings · Issue #39): UWM Holdings (UWMC) started the pricing measurement period for a $400 million rights offering.
- **[Qurient Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (115180.KQ (KR) · MCAP $504M · Rights Offerings · Issue #39): Qurient is raising 105.8 billion won via a rights offering of 7.1 million new shares at 14,900 won per share, via shareholder allocation plus public offering of unsubscribed shares.
- **[East West Banking Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (EW.PS (PH) · MCAP $340M · Rights Offerings · Issue #39): East West Banking Corporation (EW.PS) published a preliminary prospectus dated October 29, 2026 for a stock rights offering seeking gross proceeds of up to PHP 9.0 billion.
- **[Samsung FN Trust Management Real Estate Investment Company](https://specialsitsdigest.com/special-situations-digest-39/)** (448730.KS (KR) · MCAP $333M · Rights Offerings · Issue #39): Samsung FN Trust Management Real Estate Investment Company (448730.KS) is raising approximately KRW 90.3 billion (~$68M) through a rights issue of 19 million new common shares.
- **[Saudi Arabian Refineries Company](https://specialsitsdigest.com/special-situations-digest-39/)** (2030.SR (SA) · MCAP $188M · Rights Offerings · Issue #39): Saudi Arabian Refineries Company (SARCO) is raising SAR 300 million ($80 million) through a rights issue to fund investment projects.
- **[ERTH Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (6072.T (JP) · MCAP $136M · Rights Offerings · Issue #39): ERTH Group Co., Ltd. (6072.T) will allot one unlisted stock acquisition right per common share to all shareholders at no cost to raise up to 13.0 billion yen (gratuitous allotment of…
- **[Avantium](https://specialsitsdigest.com/special-situations-digest-39/)** (AVTX.AS (NL) · MCAP $109M · Rights Offerings · Issue #39): Avantium (AVTX.AS) is raising €55.45 million (~$62M) through a rights offering to cover a working capital shortfall and support the ramp-up of its FDCA flagship plant.
- **[Kuan Hung Art](https://specialsitsdigest.com/special-situations-digest-39/)** (6596.TWO (TW) · MCAP $108M · Rights Offerings · Issue #39): Kuan Hung Art (6596.TWO) will issue up to 5 million new common shares via a cash capital increase to strengthen operating capital.
- **[IRC Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1029.HK (HK) · MCAP $92M · Rights Offerings · Issue #39): IRC Limited proposes a rights issue of 1 Rights Share for every 2 existing Shares at HK$0.315 per Rights Share, on a non-fully underwritten basis.
- **[Ni Hsin Group Bhd](https://specialsitsdigest.com/special-situations-digest-39/)** (NIHSIN.KL (MY) · MCAP $71M · Rights Offerings · Issue #39): Ni Hsin Group Bhd (NIHSIN.KL) proposed a bonus issue of up to 312.65 million warrants, offering one free warrant for every two existing shares held.
- **[Moon Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (1723.HK (HK) · MCAP $37M · Rights Offerings · Issue #39): Moon Inc. (1723.HK) postponed the despatch of its rights issue prospectus to on or before 16 November 2026, delaying a proposal to issue one rights share for every two shares held.
- **[BioInvent International AB](https://specialsitsdigest.com/special-situations-digest-39/)** (BINV.ST (SE) · MCAP $36M · Rights Offerings · Issue #39): BioInvent International AB (BINV.ST) announced on October 28, 2026 a proposed SEK 430 million rights issue, subject to approval at an extraordinary general meeting expected on December 1.
- **[Terramin Australia Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TZN.AX (AU) · MCAP $29M · Rights Offerings · Issue #39): Terramin Australia Limited (TZN.AX) issued 1,452,931,465 shares (about 1.45 billion) on October 26, 2026 at A$0.018 per share under its non-renounceable rights issue, representing…
- **[Sangji Construction, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (042940.KQ (KR) · MCAP $24M · Rights Offerings · Issue #39): Sangji Construction amended its May 8, 2026 paid-in capital increase report to fix the new-share issue price at KRW 5,000, determined October 28, 2026.
- **[Shivam Autotech](https://specialsitsdigest.com/special-situations-digest-39/)** (532776.BO (IN) · MCAP $19M · Rights Offerings · Issue #39): Three investors applied for 17.5 million shares in a rights issue for Shivam Autotech (532776.BO) that opened October 28, 2026.
- **[Green Power Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1870.HK (HK) · MCAP $19M · Rights Offerings · Issue #39): Green Power Group Limited (1870.HK) further delayed the despatch of its rights issue prospectus to on or before 4 November 2026 to finalize information.
- **[A-Smart Holdings Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (BQC.SI (SG) · MCAP $18M · Rights Offerings · Issue #39): The Securities Industry Council granted a waiver on 22 October 2026 to remove the obligation for MWD and OHL to make a mandatory offer if they subscribe to shares in a rights issue for…
- **[PT Cipta Perdana Lancar Tbk](https://specialsitsdigest.com/special-situations-digest-39/)** (PART.JK (ID) · MCAP $18M · Rights Offerings · Issue #39): President Director Hamim increased his direct stake in PT Cipta Perdana Lancar Tbk (PART.JK) to 9.61% after buying 1.9 million shares on the open market (OJK ownership report).
- **[Crescentis Capital Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (511571.BO (IN) · MCAP $18M · Rights Offerings · Issue #39): Crescentis Capital Limited (511571.BO) is seeking to raise up to Rs 80 crores (~$8.4M) through a rights issue.
- **[iA, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (038880.KQ (KR) · MCAP $17M · Rights Offerings · Issue #39): iA, Inc. (038880.KQ) delayed the timetable for its KRW 10.3 billion (~$7.7M) rights offering of 3.7 million shares to raise operating funds.
- **[Fresita Proteins Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (519242.BO (IN) · MCAP $13M · Rights Offerings · Issue #39): Fresita Proteins Limited (519242.BO) is launching a rights issue of 7.5 million shares at ₹120 per share to raise ₹897.6 million (~$9.5M) (rights issue letter of offer).
- **[AcuCort AB](https://specialsitsdigest.com/special-situations-digest-39/)** (ACUC.ST (SE) · MCAP $12M · Rights Offerings · Issue #39): AcuCort AB (publ) (ACUC.ST) is conducting a rights issue to raise SEK 70.3 million (~$7.1M) in gross proceeds before issue costs.
- **[Artgo Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (3313.HK (HK) · MCAP $12M · Rights Offerings · Issue #39): Artgo Holdings Limited (3313.HK) delayed the despatch of its rights issue circular to on or before 19 November 2026, pushing back the full transaction timetable.
- **[Milan Station Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1150.HK (HK) · MCAP $11M · Rights Offerings · Issue #39): Milan Station Holdings Limited (1150.HK) revised the timetable for its proposed non-underwritten one-for-one rights issue and related share consolidation.
- **[PT Leyand International Tbk](https://specialsitsdigest.com/special-situations-digest-39/)** (LAPD.JK (ID) · MCAP $11M · Rights Offerings · Issue #39): PT Leyand International Tbk (LAPD.JK) received shareholder approval on October 29, 2026 for a proposed rights issue of up to 2 billion new shares at an indicative price of Rp 30 per share…
- **[Litian Pictures Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (9958.HK (HK) · MCAP $8M · Rights Offerings · Issue #39): Litian Pictures Holdings Limited (9958) has further delayed the dispatch of its circular regarding a proposed rights issue, increase in authorized share capital, and change in board lot…
- **[Asia Insurance](https://specialsitsdigest.com/special-situations-digest-39/)** (ASIC (PK) · MCAP $8M · Rights Offerings · Issue #39): Asia Insurance (ASIC) proposes to raise Rs 269.9 million (~$976.2K) by issuing 27.0 million new ordinary shares at Rs 10 per share (rights issue draft offer).
- **[Entera S.p.A.](https://specialsitsdigest.com/special-situations-digest-39/)** (ENT.MI (IT) · MCAP $6M · Rights Offerings · Issue #39): Entera S.p.A. (ENT.MI) accepted a €1 million (~$1.1M) irrevocable contribution from shareholder Smart Capital S.p.A. as an advance toward a future capital increase.
- **[Suvidhaa Infoserve Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (SUVIDHAA.NS (IN) · MCAP $5M · Rights Offerings · Issue #39): Suvidhaa Infoserve Limited (SUVIDHAA) is issuing equity shares on a rights basis at a price of ₹1.50 per share.
- **[Nanologica AB](https://specialsitsdigest.com/special-situations-digest-39/)** (NICA.ST (SE) · MCAP $5M · Rights Offerings · Issue #39): Nanologica AB (publ) (NICA.ST) will hold an extraordinary general meeting on November 30, 2026, to vote on a related-party guarantee agreement of up to SEK 25.0 million (~$2.5M) to back a…
- **[Satu Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (8392.HK (HK) · MCAP $4M · Rights Offerings · Issue #39): Satu Holdings Limited (8392.HK) proposes a rights issue of up to 100.0 million Rights Shares at HK$0.19 each, raising up to approximately HK$19.0 million (~$2.4M) gross / approximately…
- **[Eureka Metals Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (ERKA.CN (CA) · MCAP $3M · Rights Offerings · Issue #39): Eureka Metals Corp. (CSE: ERKA) commenced a transferable rights offering to raise gross proceeds of up to $499,134.
- **[Asia-Pac Financial Investment Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (8193.HK (HK) · MCAP $3M · Rights Offerings · Issue #39): premium 20.5%. Asia-Pac Financial Investment Company Limited (8193.HK) is conducting a rights issue of two Rights Shares for every one Share held on the Record Date of Tuesday, 27 October 2026.
- **[Samsung Biologics](https://specialsitsdigest.com/special-situations-digest-38/)** (207940.KS (KR) · MCAP $48.4B · Rights Offerings · Issue #38): Samsung Biologics (207940.KS) is raising about 3 trillion won (~$2.2B) through a rights offering, mainly to fund its acquisition of PolyPeptide Group (PPGN.SW).
- **[UWM Holdings](https://specialsitsdigest.com/special-situations-digest-38/)** (UWMC (US) · MCAP $2.3B · Rights Offerings · Issue #38): UWM Holdings (UWMC) expects to sell $70 billion to $80 billion of mortgage servicing rights in Q4 2026 for more than $1.8 billion to support non-funding debt repayment.
- **[Pennon Group Plc](https://specialsitsdigest.com/special-situations-digest-38/)** (PNN.L (UK) · MCAP $2.1B · Rights Offerings · Issue #38): Pennon Group (PNN.L) is raising about £550 million through a fully underwritten rights issue of 220,257,997 new shares at 250 pence, on the basis of 7 new shares for every 15 held, a 35.5%…
- **[Genting Berhad](https://specialsitsdigest.com/special-situations-digest-38/)** (3182.KL (MY) · MCAP $1.3B · Rights Offerings · Issue #38): Genting Berhad (3182.KL) proposes a RM1.25 billion renounceable rights issue to cut debt and protect its investment-grade credit rating, as heavy expansion spending and higher financing…
- **[PT Abadi Nusantara Hijau Investama Tbk](https://specialsitsdigest.com/special-situations-digest-38/)** (PACK.JK (ID) · MCAP $729M · Rights Offerings · Issue #38): PT Abadi Nusantara Hijau Investama Tbk (PACK.JK) plans to raise Rp8.19 trillion (US$455 million) by issuing up to 100 billion new shares in a rights issue (PMHMETD), to repay loans, fund…
- **[Hansol IONES Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (114810.KQ (KR) · MCAP $246M · Rights Offerings · Issue #38): Hansol IONES (114810.KQ) board approved a rights issue of 6.6 million new common shares on October 23, 2026, to raise KRW 60.0 billion (~$45M) for facility funding.
- **[Sekerbank T.A.S.](https://specialsitsdigest.com/special-situations-digest-38/)** (SKBNK.IS (TR) · MCAP $162M · Rights Offerings · Issue #38): Sekerbank T.A.S. (SKBNK.IS) set a 40% rights issue on October 21, 2026, raising paid-in capital from TRY2.5 billion to TRY3.5 billion, or TRY1.0 billion if fully subscribed.
- **[DS Dansuk](https://specialsitsdigest.com/special-situations-digest-38/)** (017860.KS (KR) · MCAP $147M · Rights Offerings · Issue #38): DS Dansuk (017860.KS) decided on a 42.2 billion KRW rights offering to fund facilities and operating capital for subsidiaries.
- **[FAR International Holdings Group Company Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (2516.HK (HK) · MCAP $64M · Rights Offerings · Issue #38): FAR International Holdings Group Company Limited (2516.HK) is launching a non-underwritten rights issue to raise up to HK$74.9 million (~$9.6M) by offering two Rights Shares for every five…
- **[Kellton Tech Solutions Ltd](https://specialsitsdigest.com/special-situations-digest-38/)** (519602.BO (IN) · MCAP $62M · Rights Offerings · Issue #38): Kellton Tech Solutions Ltd (519602.BO) approved a rights issue for an amount not exceeding ₹160 crore (~$17M) (exchange filing).
- **[Gapwaves AB](https://specialsitsdigest.com/special-situations-digest-38/)** (GAPW-B.ST (SE) · MCAP $33M · Rights Offerings · Issue #38): Gapwaves AB (publ) (GAPW-B.ST) intends to raise SEK 62.5 million (~$6.3M) through a rights issue of units consisting of series B shares and warrants.
- **[BENO Holding AG](https://specialsitsdigest.com/special-situations-digest-38/)** (BENH.DE (DE) · MCAP $24M · Rights Offerings · Issue #38): BENO Holding AG (BENH.DE) launched a 5:1 rights offering at €6.50 per share to raise up to €4.38 million (~$4.9M) through the issuance of up to 674,188 new shares.
- **[Minesto AB](https://specialsitsdigest.com/special-situations-digest-38/)** (MINEST.ST (SE) · MCAP $22M · Rights Offerings · Issue #38): Minesto AB (publ) (MINEST.ST) plans to raise SEK 130 million (~$13M) through a rights issue to fund commercial tidal arrays.
- **[Shivam Autotech Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (SHIVAMAUTO.NS (IN) · MCAP $20M · Rights Offerings · Issue #38): Shivam Autotech Limited (SHIVAMAUTO.NS) reduced the size of its ongoing rights issue and updated the milestone timetable via a corrigendum to its Letter of Offer.
- **[Avio Smart Market Stack Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (ASMS.NS (IN) · MCAP $17M · Rights Offerings · Issue #38): Avio Smart Market Stack Limited (ASMS.NS) is raising ₹49 crore (~$5.2M) through a rights issue to fund operations and a ₹14 crore (~$1.5M) investment in Ampivo Smart Technologies Private…
- **[Alpha Professional Holdings Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (0948.HK (HK) · MCAP $14M · Rights Offerings · Issue #38): Alpha Professional Holdings Limited (0948.HK) is conducting a non-underwritten rights issue to raise up to HK$82.5 million (~$11M) by offering 412.3 million shares at HK$0.200 per share.
- **[Klaria Pharma Holding AB](https://specialsitsdigest.com/special-situations-digest-38/)** (KLAR.ST (SE) · MCAP $14M · Rights Offerings · Issue #38): Klaria Pharma Holding (KLAR.ST) received approximately SEK 2.2 million (~$222.0K) in subscription commitments without preferential rights in the ongoing rights issue of units of up to…
- **[Zoono Group Ltd](https://specialsitsdigest.com/special-situations-digest-38/)** (ZNO.AX (AU) · MCAP $13M · Rights Offerings · Issue #38): Zoono Group Ltd (ZNO.AX) announced a non-renounceable rights issue.
- **[Maxland Berhad](https://specialsitsdigest.com/special-situations-digest-38/)** (MAXLAND.KL (MY) · MCAP $12M · Rights Offerings · Issue #38): Maxland Berhad (MAXLAND.KL) is raising up to RM60.1 million through a 1-for-1 renounceable rights issue of 2.4 billion shares at RM0.025 per share.
- **[Urban Enviro Waste Management Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (URBAN.NS (IN) · MCAP $12M · Rights Offerings · Issue #38): Urban Enviro Waste Management Limited (URBAN.NS) approved a 1:1 rights issue of up to 8,660,000 shares at ₹80 each, raising up to ₹692.8 million.
- **[FYNX Capital](https://specialsitsdigest.com/special-situations-digest-38/)** (FYNX.BO (IN) · MCAP $12M · Rights Offerings · Issue #38): FYNX Capital (FYNX.BO) is preparing a rights issue to existing shareholders, with a proposed raise of up to ₹800 million reported, and appointed Bonanza Portfolio Limited as merchant banker…
- **[PT Hassana Boga Sejahtera Tbk](https://specialsitsdigest.com/special-situations-digest-38/)** (NAYZ.JK (ID) · MCAP $11M · Rights Offerings · Issue #38): PT Hassana Boga Sejahtera Tbk (NAYZ.JK) is pursuing a rights issue to fund a business pivot from baby food to telecommunications and technology.
- **[Yolo Group S.p.A.](https://specialsitsdigest.com/special-situations-digest-38/)** (YOLO.MI (IT) · MCAP $6M · Rights Offerings · Issue #38): Yolo Group S.p.A. (YOLO.MI) is seeking shareholder approval to authorize a pre-emptive rights issue of up to €2 million (~$2.2M) including share premium.
- **[Universal Insurance Company Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (UVIC.KA (PK) · MCAP $3M · Rights Offerings · Issue #38): Universal Insurance Company Limited (UVIC.KA) is launching a 1-for-1 rights issue of 50 million ordinary shares at PKR 10 per share to raise PKR 500 million.
- **[Freehill Mining Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (FHS.AX (AU) · MCAP $3M · Rights Offerings · Issue #38): Freehill Mining Limited (FHS.AX) is raising up to $0.6 million through a non-renounceable entitlement offer of new shares at $0.001 per share.
- **[Reach New Holdings Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (8471.HK (HK) · MCAP $3M · Rights Offerings · Issue #38): Reach New Holdings Limited (8471.HK) delayed the despatch of its circular for a proposed rights issue of three rights shares for every one share held.
- **[The Hydration Pharmaceuticals Company Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (HPC.AX (AU) · MCAP $757.2K · Rights Offerings · Issue #38): premium approximately. The Hydration Pharmaceuticals Company Limited (HPC.AX) is raising up to A$1.4 million (~$985.3K) through a non-renounceable entitlement offer of two new shares for every three held at…
- **[Bawany Air Products Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (BAPL.KA (PK) · Rights Offerings · Issue #38): Bawany Air Products Limited (BAPL) is issuing 600.0 million ordinary shares at Rs.
- **[FIT Holding Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (3712.TW (TW) · Rights Offerings · Issue #38): FIT Holding Co., Ltd. (3712.TW) approved issuance of 156.25 million common shares, representing NT$1.5625 billion of nominal capital at NT$10 par value.
- **[Orexo AB](https://specialsitsdigest.com/special-situations-digest-38/)** (ORX.ST (SE) · Rights Offerings · Issue #38): Orexo AB (ORX.ST) proposed a ~SEK 250m rights issue to fund priority programs.

### SPACs (https://specialsitsdigest.com/spacs/)

- **[RTW Biotech Opportunities Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (RTW.L (UK) · MCAP $751M · SPACs · Issue #39): RTW Biotech Opportunities Ltd (RTW.L) noted that portfolio company Corxel Pharmaceuticals, Inc. (Corxel US) entered a definitive business combination agreement with SPAC Amanat Acquisition…
- **[Churchill Capital Corp XI](https://specialsitsdigest.com/special-situations-digest-39/)** (CCXI (US) · MCAP $454M · SPACs · Issue #39): Offer $10 · closes Nov 4, 2026. Churchill Capital Corp XI (CCXI) will provide approximately $465 million in total pre-transaction-cost proceeds to Agility Robotics upon the closing of their merger (Form 8-K).
- **[K&F Growth Acquisition Corp. II](https://specialsitsdigest.com/special-situations-digest-39/)** (KFII (US) · MCAP $431M · SPACs · Issue #39): K&F Growth Acquisition Corp. II (KFII) entered a nonbinding letter of intent for a proposed business combination that would separate Pearl, the digital business of David's Bridal, as a…
- **[GigCapital9 Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (GIX (US) · MCAP $365M · SPACs · Issue #39): GigCapital9 Corp. (Nasdaq: GIX) entered a non-binding letter of intent for a business combination with a leading clean energy technology company focusing on post-combustion carbon capture…
- **[Titan Acquisition Corp](https://specialsitsdigest.com/special-situations-digest-39/)** (TACH (US) · MCAP $364M · SPACs · Issue #39): Titan Acquisition Corp (TACH) is pursuing a stock-based business combination with OpenPayd Global Holdings Limited that provides $800 million of aggregate stock consideration to OpenPayd…
- **[Kochav Defense Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (KCHV (US) · MCAP $360M · SPACs · Issue #39): Kochav Defense Acquisition Corp. (Nasdaq: KCHV) called an EGM for November 13, 2026, at 10:00 a.m. Eastern to vote on the Extension Amendment Proposal.
- **[Kensington Capital Acquisition Corp. VI](https://specialsitsdigest.com/special-situations-digest-39/)** (KCA-UN (US) · MCAP $342M · SPACs · Issue #39): Kensington Capital Acquisition Corp. VI (KCA-UN) is merging with Nth Cycle.
- **[Inflection Point Acquisition Corp. VI](https://specialsitsdigest.com/special-situations-digest-39/)** (IPFX (US) · MCAP $341M · SPACs · Issue #39): Inflection Point Acquisition Corp. VI (IPFX) will combine with Quantum Space, LLC in a $600 million stock transaction.
- **[Jackson Acquisition Company II](https://specialsitsdigest.com/special-situations-digest-39/)** (JACS (US) · MCAP $321M · SPACs · Issue #39): Jackson Acquisition Company II (JACS) will hold a shareholder vote on November 20, 2026, to extend the deadline for completing an initial business combination (DEF 14A).
- **[Inflection Point Acquisition Corp. VII](https://specialsitsdigest.com/special-situations-digest-39/)** (MCAP $317M · SPACs · Issue #39): Inflection Point Acquisition Corp. VII (IPXG) amended its business combination agreement to merge with Elroy Air, Inc. in a deal valuing the target at $800 million.
- **[Copley Acquisition Corp](https://specialsitsdigest.com/special-situations-digest-39/)** (COPL (US) · MCAP $235M · SPACs · Issue #39): Copley Acquisition Corp (COPL) adjourned its special meeting to November 2, 2026, to seek approval for a business-combination deadline extension.
- **[Stellar V Capital Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (SVCC (US) · MCAP $234M · SPACs · Issue #39): Stellar V Capital Corp. (SVCC) shareholders approved an extension of the deadline to complete a business combination to July 31, 2027 (8-K).
- **[Translational Development Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (TDAC (US) · MCAP $222M · SPACs · Issue #39): TDAC and ProLogium have engaged BTIG, Credit Agricole Securities (USA), and Cohen & Company Capital Markets as placement agents for the PIPE Offering tied to the Potential Business…
- **[GP-Act III Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (GPAT (US) · MCAP $179M · SPACs · Issue #39): GP-Act III Acquisition Corp. (GPAT) is seeking shareholder approval to extend its business-combination deadline from November 13, 2026, to May 8, 2027 (DEF 14A).
- **[NMP Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (NMP (US) · MCAP $166M · SPACs · Issue #39): NMP Acquisition Corp. filed a preliminary proxy (PRE 14A) on October 27, 2026 for an AGM in December 2026 (date not yet set).
- **[Graf Global Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (MCAP $155M · SPACs · Issue #39): Graf Global Corp. (TONT) entered a business combination agreement to merge with BIG3 HoldCo LLC in a stock deal valued at $290 million.
- **[Mkango Magnetic Materials Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (MKA.V (CA) · MCAP $139M · SPACs · Issue #39): MKAR, Mkango's wholly-owned subsidiary, filed a further amendment to its Form F-4 with the SEC on October 26, 2026 for the business combination with Crown PropTech Acquisitions (CPTK)…
- **[Starlink AI Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (OTAI (US) · MCAP $136M · SPACs · Issue #39): Starlink AI Acquisition Corporation (NYSE: OTAI), a Cayman Islands blank check company, and Spider Digital Technology Ltd. entered a definitive business combination agreement dated October…
- **[Amanat Acquisition Corp](https://specialsitsdigest.com/special-situations-digest-39/)** (AMAN (US) · MCAP $99M · SPACs · Issue #39): Amanat Acquisition Corp (Nasdaq: AMAN) and Corxel US entered into a definitive business combination agreement on October 25, 2026 and announced it on October 26.
- **[Research Alliance Corporation III](https://specialsitsdigest.com/special-situations-digest-39/)** (RACC (US) · MCAP $92M · SPACs · Issue #39): Research Alliance Corporation III (RACC) proposes to acquire OHB Pediatrics Ltd. (Oak Hill Bio) in a stock-for-stock transaction using a $160 million base equity value and a $10.00…
- **[Wintergreen Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (WTG (US) · MCAP $78M · SPACs · Issue #39): Wintergreen Acquisition Corp. (WTG) is seeking shareholder approval to extend its combination deadline to May 28, 2028 and waive further monthly sponsor extension fees.
- **[International Media Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (IMAQ (US) · MCAP $69M · SPACs · Issue #39): International Media Acquisition Corp. (IMAQ) is seeking stockholder approval to extend its business-combination deadline by 18 months, from January 2, 2027 to July 2, 2028 (Preliminary…
- **[ClimateRock Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (CLRCF (US) · MCAP $27M · SPACs · Issue #39): Offer $10 per share value. ClimateRock (CLRCF) proposes to combine with GreenRock Corp through ClimateRock Holdings Limited, the newly formed public parent, in a stock transaction using 32 million Pubco shares as…
- **[IBKS No. 24 Special Purpose Acquisition Company](https://specialsitsdigest.com/special-situations-digest-39/)** (469480.KQ (KR) · MCAP $11M · SPACs · Issue #39): closes Dec 22, 2026. LUXCo Co., Ltd. will absorb-merge IBKS No. 24 Special Purpose Acquisition Company (469480.KQ) in a de-SPAC transaction where LUXCo survives and lists on KOSDAQ.
- **[Hanwha Plus No. 5 SPAC](https://specialsitsdigest.com/special-situations-digest-39/)** (498390.KQ (KR) · MCAP $9M · SPACs · Issue #39): closes Dec 29, 2026. Solis Co., Ltd. will absorb and merge with Hanwha Plus No. 5 SPAC (498390.KQ) in a stock-for-stock transaction that will result in Solis listing on KOSDAQ.
- **[Kiwoom No. 10 Special Purpose Acquisition Company](https://specialsitsdigest.com/special-situations-digest-39/)** (487720.KQ (KR) · MCAP $7M · SPACs · Issue #39): closes Apr 26, 2027. Kiwoom No. 10 SPAC board resolved on October 30, 2026 to be absorbed by unlisted ITES Co., Ltd. ITES survives and the SPAC disappears, with ITES listing on KOSDAQ.
- **[Constellation Acquisition Corp I](https://specialsitsdigest.com/special-situations-digest-39/)** (CSTAF (US) · MCAP $102M (last traded 2026-08) · SPACs · Issue #39): Constellation Acquisition Corp I (CSTAF) is merging with US Elemental Inc. to acquire HiTech Minerals Inc. in a deal valued at $500 million.
- **[Launch Two Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (LPBB (US) · MCAP $310M · SPACs · Issue #38): Launch Two Acquisition Corp. (LPBB) and NuCube Energy amended their June 25, 2026 business combination agreement on October 19, 2026, extending the outside date to January 7, 2027.
- **[Drugs Made In America Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (DMAA (US) · MCAP $264M · SPACs · Issue #38): Drugs Made In America Acquisition Corp. (DMAA) amended its merger agreement with Power Analytics Global Corp. on October 13, 2026.
- **[APEX Tech Acquisition Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (TRAD (US) · MCAP $147M · SPACs · Issue #38): APEX Tech Acquisition Corporation (TRAD) entered into a definitive agreement to merge with Korai Flix at a $3.5 billion pre-money valuation.
- **[Charlton Aria Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-38/)** (CHAR (US) · MCAP $120M · SPACs · Issue #38): KQC Quantum Inc. has agreed to merge with Charlton Aria Acquisition Corporation (Nasdaq: CHAR) in a transaction valuing the combined business at approximately $215 million.
- **[TCGX Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (TCGX (US) · MCAP $113M · SPACs · Issue #38): TCGX Acquisition Corp. (TCGX) signed a business combination agreement on October 18, 2026 to take TriGemX Bio, Inc. (formerly Kallyope, Inc.) public on Nasdaq under the ticker TGEM.
- **[Melar Acquisition Corp. I](https://specialsitsdigest.com/special-situations-digest-38/)** (MACI (US) · MCAP $108M · SPACs · Issue #38): Melar Acquisition Corp. I (Nasdaq: MACI) shareholders approved the business combination with Everli Global Inc. at the EGM held October 22, 2026, along with all related proposals.
- **[IBKS No. 25 SPAC](https://specialsitsdigest.com/special-situations-digest-38/)** (0099X0.KQ (KR) · SPACs · Issue #38): closes Dec 18, 2026. Celltrics Co., Ltd. will absorb IBKS No. 25 SPAC (0099X0.KQ) in a de-SPAC merger where SPAC shareholders receive 0.4612273 Celltrics shares for each share held.
- **[ClimateRock](https://specialsitsdigest.com/special-situations-digest-38/)** (CLRCF (US) · MCAP $27M (last traded 2026-10) · SPACs · Issue #38): ClimateRock (CLRC) amended its merger agreement with GreenRock on October 19, 2026, removing the acquisition of TEP Renewables as a closing condition, eliminating the earnout escrow and…
- **[Mountain Crest Acquisition Corp. V](https://specialsitsdigest.com/special-situations-digest-38/)** (MCAG (US) · MCAP $38M (last traded 2026-04) · SPACs · Issue #38): Mountain Crest Acquisition Corp. V (MCAG) stockholders vote November 11, 2026 on the proposed combination with CubeBio Co., Ltd. The deal values CubeBio at $375.0 million, paid in shares at…
- **[Quantisimo Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (GIW (US) · SPACs · Issue #38): Offer $10.00. Private Quantisimo Corp. signed a definitive agreement to combine with GigCapital8 Corp. (Nasdaq: GIW), implying approximately $666.1 million of equity value for Quantisimo at a $10.00…
- **[Pyrophyte Acquisition Corp. II](https://specialsitsdigest.com/special-situations-digest-37/)** (PAII (US) · MCAP $281M · SPACs · Issue #37): Pyrophyte Acquisition Corp. II (PAII) signed a business combination agreement with Sakuu Corporation at a $600 million pre-money equity value, with Sakuu equityholders receiving 60 million new shares based on a $10.00 reference price.
- **[Archimedes Tech SPAC Partners II Co.](https://specialsitsdigest.com/special-situations-digest-37/)** (ATII (US) · MCAP $275M · SPACs · Issue #37): Archimedes Tech SPAC Partners II Co. (ATII) shareholders approved a business combination with Forge Nano, Inc. at an October 16, 2026 Extraordinary General Meeting.
- **[FortuneX Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-37/)** (FXAC (US) · MCAP $128M · SPACs · Issue #37): FortuneX Acquisition Corporation entered into a Business Combination Agreement with WT Realty Group Inc. on September 18, 2026. On October 13, 2026, the parties signed a First Amendment reducing aggregate merger consideration from 60.0.
- **[EHI! S.p.A.](https://specialsitsdigest.com/special-situations-digest-37/)** (EHI.MI (IT) · MCAP $41M · SPACs · Issue #37): EHI! S.p.A. (EHI.MI) is seeking shareholder approval to pivot from a SPAC into a permanent-capital industrial, financial, and strategic consulting and investment company.
- **[Horizon Space Acquisition I Corp.](https://specialsitsdigest.com/special-situations-digest-37/)** (HSPOF (US) · MCAP $28M · SPACs · Issue #37): Horizon Space Acquisition I Corp. (HSPOF) entered into a business combination agreement on October 12, 2026 to combine with ArcheNova Biotech Corp. at a $2.0 billion equity value, using newly formed ArcheNova Technology Co., Ltd as PubCo.
- **[Cactus Acquisition Corp. 1 Limited](https://specialsitsdigest.com/special-situations-digest-37/)** (MCAP $35M (last traded September 2026) · SPACs · Issue #37): Cactus Acquisition Corp. 1 Limited (CCTSF) will hold a shareholder vote on October 27, 2026, to extend its business combination deadline from November 2, 2026, to November 2, 2027.
- **[Armada Acquisition Corp. II](https://specialsitsdigest.com/special-situations-digest-36/)** (XRPN (US) · MCAP $607M · SPACs · Issue #36): closes Oct 7, 2026. Shareholders of Armada Acquisition Corp. II (XRPN) approved the business combination with Evernorth, and the transaction was completed on October 9, 2026; Evernorth shares are expected to begin trading on Nasdaq under XRPN on October 12.
- **[Bleichroeder Acquisition Corp. III](https://specialsitsdigest.com/special-situations-digest-36/)** (BCCQ (US) · MCAP $457M · SPACs · Issue #36): Bleichroeder Acquisition Corp. III (BCCQ) has agreed to combine with Ursa Major Technologies, Inc. The issuer’s announcement specifies approximately $1.6 billion pre-money equity value and approximately $2.3 billion post-transaction equity.
- **[GigCapital8 Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (GIW (US) · MCAP $372M · SPACs · Issue #36): Offer $10.00. GigCapital8 Corp. has agreed to a business combination in which WISeQey Corp. and SEALSQ Corp. (Nasdaq: LAES) would receive an aggregate of 66.6 million shares in the new public company.
- **[Titan Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (TACH (US) · MCAP $364M · SPACs · Issue #36): OpenPayd is merging with Titan Acquisition Corp. (TACH) to list on the Nasdaq under the ticker OP. The post-merger pro forma equity value of the combined entity could reach $1.145 billion.
- **[Inflection Point Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (IPFX (US) · MCAP $339M · SPACs · Issue #36): Inflection Point Acquisition Corp. VI (IPFX) entered into a business combination agreement with Quantum Space, LLC valuing the target at $600 million.
- **[Bold Eagle Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (BEAG (US) · MCAP $335M · SPACs · Issue #36): Bold Eagle Acquisition Corp. (BEAG) shareholders will vote October 20, 2026, on extending the business combination deadline with REDLattice from October 25, 2026, to June 25, 2027 (DEF 14A).
- **[Aldel Financial II Inc.](https://specialsitsdigest.com/special-situations-digest-36/)** (ALDF (US) · MCAP $323M · SPACs · Issue #36): Aldel Financial II Inc. (ALDF) extended its business combination deadline from October 23, 2026, to potentially January 23, 2028, following a shareholder vote (8-K).
- **[CSLM Digital Asset Acquisition Corp III, Ltd](https://specialsitsdigest.com/special-situations-digest-36/)** (KOYN (US) · MCAP $323M · SPACs · Issue #36): CSLM Digital Asset Acquisition Corp III, Ltd (KOYN) signed a Business Combination Agreement to merge with First Digital Group in a de-SPAC transaction valuing the target at $250 million.
- **[Texas Ventures Acquisition III Corp](https://specialsitsdigest.com/special-situations-digest-36/)** (TVA (US) · MCAP $317M · SPACs · Issue #36): Offer $10.00. Texas Ventures Acquisition III Corp (TVA) is seeking to extend its liquidation deadline to July 24, 2027, via a proxy supplement filed October 9, 2026.
- **[Silicon Valley Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (SVAQ (US) · MCAP $298M · SPACs · Issue #36): Silicon Valley Acquisition Corp. (SVAQ) is pursuing a business combination with EigenQ Inc. and has filed a Form S-4 registration statement. The process has entered a public-marketing phase, evidenced by an October 2, 2026, webinar.
- **[Iron Horse Acquisition II Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (IRHO (US) · MCAP $295M · SPACs · Issue #36): Iron Horse Acquisition II Corp. (IRHO) released an updated investor presentation on October 9, 2026, regarding its previously announced business combination with Electra Vehicles, Inc.
- **[ACP Holdings Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (ACGC (US) · MCAP $292M · SPACs · Issue #36): May Mobility entered into a definitive business combination agreement with ACP Holdings Acquisition Corp. (ACP) to become a publicly traded company. The transaction includes a fully committed PIPE.
- **[McKinley Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-36/)** (MKLY (US) · MCAP $251M · SPACs · Issue #36): McKinley Acquisition Corporation (MKLY) is merging with Space-Eyes, Inc. in a stock transaction valuing the target at $275 million (Form S-4). The deal includes the conversion of $9.1 million in convertible notes into 1.8 million shares.
- **[Digital Asset Acquisition Corp.](https://specialsitsdigest.com/special-situations-digest-36/)** (DAAQ (US) · MCAP $241M · SPACs · Issue #36): Offer $10.00. Digital Asset Acquisition Corp. (DAAQ) entered into a merger agreement on October 7, 2026 to combine with Titan Strategics Holdings Ltd for a $250 million base purchase price, paid in 25 million shares of the combined company at $10 per.
- **[Mkango Magnetic Materials Ltd.](https://specialsitsdigest.com/special-situations-digest-36/)** (MKA.L (UK) · MCAP $202M · SPACs · Issue #36): Mkango Magnetic Materials Ltd. (MKA.L) announced on 9 October 2026 that its subsidiary HyProMag GmbH received Strategic Project designation under the European Union Critical Raw Materials Act.
- **[QuasarEdge Acquisition Corp](https://specialsitsdigest.com/special-situations-digest-36/)** (QRED (US) · MCAP $161M · SPACs · Issue #36): QuasarEdge Acquisition Corp (QRED) and Robseek Intelligence Inc. amended their June 9, 2026 merger agreement on October 6, 2026. The amendment replaces the Class A and Class B ordinary share structure with a single class of shares, each.
- **[Aperture AC](https://specialsitsdigest.com/special-situations-digest-36/)** (APUR (US) · MCAP $148M · SPACs · Issue #36): Aperture AC (APUR) announced that Atlantic HPC Group Inc appointed Leo Lin CEO effective October 1, 2026, ahead of their pending business combination under an agreement dated September 10, 2026.
- **[Quantumsphere Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-36/)** (QUMS (US) · MCAP $118M · SPACs · Issue #36): Quantumsphere Acquisition Corporation (QUMS) announced a merger agreement with Fortune Favor Technology on October 9, 2026, implying an approximately $600 million pre-money equity value for Fortune Favor.
- **[Quartzsea Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-36/)** (QSEA (US) · MCAP $109M · SPACs · Issue #36): Quartzsea entered into a New Merger Agreement with Eight Directions Technology Limited. The transaction implies an equity value for Eight Directions of approximately $515.0 million, paid in PubCo ordinary shares valued at $10.00 per share.
- **[Spark I Acquisition Corporation](https://specialsitsdigest.com/special-situations-digest-36/)** (SPKL (US) · MCAP $100M · SPACs · Issue #36): Spark I Acquisition Corporation shareholders redeemed 609,668 Class A ordinary shares. Approximately $7.1 million (about $11.68 per share) was withdrawn from the trust account as of October 2, 2026.
- **[Athena Technology Acquisition Corp. II](https://specialsitsdigest.com/special-situations-digest-36/)** (ATEK (US) · MCAP $94M · SPACs · Issue #36): Athena Technology Acquisition Corp. II (ATEK) filed a post-effective amendment on October 5, 2026, solely to replace its legality opinion and related consent for the pending Ace Green Recycling business combination.
- **[SIM Acquisition Corp. I](https://specialsitsdigest.com/special-situations-digest-36/)** (SIMA (US) · MCAP $91M · SPACs · Issue #36): SIM Acquisition Corp. I (SIMA) entered a binding letter of intent on October 2, 2026, to acquire 100% of American Industrial Technologies, Inc. for 50.0 million shares of Pubco common stock.

## Extended Situation Index by Market

### Japan Special Situations (https://specialsitsdigest.com/japan/)

- **[DENSO Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (6902.T (JP) · MCAP $28.7B · Capital Returns · Issue #39): DENSO Corporation (6902.T) will cancel 400 million common treasury shares on November 30, 2026.
- **[ENEOS Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (5020.T (JP) · MCAP $24.0B · Acquisitions · Issue #39): On October 23, ENEOS Holdings announced it will acquire the 65% of consolidated subsidiary Roadmap Holdings (RMH) it does not own from a Goldman Sachs-affiliated special purpose company…
- **[Nidec](https://specialsitsdigest.com/special-situations-digest-39/)** (6594.T (JP) · MCAP $12.6B · Litigation Outcomes · Issue #39): Nidec (6594.T) said it would pursue damages claims against founder Shigenobu Nagamori and eight other former executives over accounting irregularities.
- **[ANA Holdings Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (9202.T (JP) · MCAP $7.9B · Acquisitions · Issue #39): ANA Holdings (9202.T) signed a basic agreement to fully acquire RegionalPlus Wings Co., Ltd. through a share exchange.
- **[Sojitz Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (2768.T (JP) · MCAP $6.8B · Divestitures · Issue #39): Sojitz Corporation (2768.T) signed a transfer agreement to sell its interests in the Gregory Crinum coking coal business in Australia.
- **[Kakaku.com, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (2371.T (JP) · MCAP $4.7B · Tender Offers · Issue #39): Offer JPY 3,683 · premium 25.9% · closes Nov 19, 2026. Kakaku.com, Inc. (2371.T) faces two rival cash bids.
- **[J.FRONT RETAILING Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (3086.T (JP) · MCAP $4.3B · Activist Campaigns · Issue #39): 3D Investment Partners Pte. Ltd. increased its stake in J. Front Retailing (3086.T) to 12.73% from 11.63% (large shareholding report amendment).
- **[Medipal Holdings Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (7459.T (JP) · MCAP $4.2B · Activist Campaigns · Issue #39): The Northern Trust Company AVFC Re: Silchester International Investors International Value Equity Trust filed a petition with the Tokyo District Court to force an extraordinary general…
- **[Toyoda Gosei Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (7282.T (JP) · MCAP $3.7B · Capital Returns · Issue #39): Toyoda Gosei (7282.T) will buy back up to ¥30 billion (~$190M) of common stock, representing up to 36 million shares or 6.1% of issued shares (excluding treasury shares).
- **[Santen Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4536.T (JP) · MCAP $3.6B · Activist Campaigns · Issue #39): Silchester International Investors LLP now owns 10.25% of Santen Pharmaceutical Co., Ltd. (4536.T) after increasing its stake from 9.23% (large shareholding report).
- **[The Shiga Bank, Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (8366.T (JP) · MCAP $3.6B · Acquisitions · Issue #39): closes Apr 1, 2028. The Shiga Bank, Ltd. (8366.T) and Senshu Ikeda Holdings, Inc. signed a memorandum of understanding on October 29, 2026, to consolidate via a share exchange into an integrated holding…
- **[Mitsubishi Logistics Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (9301.T (JP) · MCAP $3.2B · Acquisitions · Issue #39): Mitsubishi Logistics decided to enter a share transfer agreement with Hankyu Hanshin Holdings to acquire all shares of Hankyu Hanshin Express and make it a consolidated subsidiary.
- **[Kanematsu Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (8020.T (JP) · MCAP $2.5B · Divestitures · Issue #39): Kanematsu Corporation (8020.T) expects a JPY 14.5 billion (~$92M) increase in FY March 2027 profit attributable to owners of the parent from the sale of all Global Security Expert Co., Ltd.…
- **[Leopalace21 Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (8848.T (JP) · MCAP $2.0B · Tender Offers · Issue #39): Offer JPY 1,000. K891 Co., Ltd.'s tender offer for Leopalace21 shares, which began on September 15, 2026, ended successfully on October 30.
- **[GMO internet group, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (9449.T (JP) · MCAP $1.9B · Divestitures · Issue #39): GMO internet group, Inc. (9449.T) is selling its 99.94% stake in GMO-Z.com Cryptonomics (Thailand) Co., Ltd. to BTGT Management (Thailand) Ltd. (EDINET extraordinary report).
- **[Chudenko Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (1941.T (JP) · MCAP $1.7B · Capital Returns · Issue #39): Chudenko Corporation (TSE:1941) announced a share repurchase program for up to 6.9 million shares, representing 13.09%, for ¥31,975.02 million (~$203M).
- **[Inabata & Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (8098.T (JP) · MCAP $1.5B · Acquisitions · Issue #39): Inabata's board resolved on October 27, 2026 to acquire an additional 65% equivalent of shares in ULVAC Coating Co., Ltd. (ULC), its equity-method affiliate, from ULVAC, Inc. The…
- **[Okasan Securities Group](https://specialsitsdigest.com/special-situations-digest-39/)** (8609.T (JP) · MCAP $1.3B · Divestitures · Issue #39): Okasan Securities Group (8609) will transfer all shares of its proprietary trading subsidiary, Sanko Securities, to Mirae Asset Securities Holdings (USA) Inc., a subsidiary of Korea's Mirae…
- **[TOSEI Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (8923.T (JP) · MCAP $1.1B · Activist Campaigns · Issue #39): Dalton Investments, Inc. increased its stake in TOSEI Corporation (8923.T) to 7.62% from 6.07% (large shareholding report).
- **[Towa Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4553.T (JP) · MCAP $1.1B · Acquisitions · Issue #39): Towa Pharmaceutical's board resolved on July 3, 2026 to acquire all shares of Tanabe Pharma Factory Co., Ltd. and make it a wholly owned subsidiary.
- **[Global Security Experts Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (4417.T (JP) · MCAP $790M · Tender Offers · Issue #39): Offer ¥8,500 · premium 6.5%. Accenture K.K. is taking Global Security Experts Inc. (4417.T) private in a cash tender offer at ¥8,500 (~$54) per share.
- **[Shibaura Machine Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (6104.T (JP) · MCAP $713M · Activist Campaigns · Issue #39): Oasis Management Company Ltd. increased its stake in Shibaura Machine Co., Ltd. (6104.T) to 12.27% (Japanese large shareholding report).
- **[baudroie, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (4413.T (JP) · MCAP $583M · Going-Private · Issue #39): Offer ¥2,970 · premium 3.8%. BCPE Neon Cayman, L.P. (Bain Capital) is taking baudroie, Inc. (4413.T) private via a share consolidation that will cash out remaining minority shareholders at ¥2,970 (~$19) per share.
- **[Kadoya Seiyu Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (2612.T (JP) · MCAP $548M · Tender Offers · Issue #39): Offer 2,514 yen per share · premium 67.9%. ITG-G Holdings, the Integral-backed bidder, extended its cash tender offer for Kadoya Sesame Mills (Kadoya Seiyu, 2612.T) to November 13, keeping the price at ¥2,514 per share; the price…
- **[MURAKAMI Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (7292.T (JP) · MCAP $526M · Activist Campaigns · Issue #39): Nippon Active Value Fund PLC, NAVF Select (Master) Fund LP, and Dalton Investments, Inc. increased their joint stake in MURAKAMI Corporation (7292.T) to 9.12% from 8.10% (amended EDINET…
- **[GOLDCREST Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (8871.T (JP) · MCAP $526M · Activist Campaigns · Issue #39): Strategic Capital Co., Ltd., an activist fund already on the register, owns 16.28% of GOLDCREST Co., Ltd. (8871.T), or 5,825,400 shares, according to its most recent large shareholding…
- **[Premium Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (7199.T (JP) · MCAP $517M · Activist Campaigns · Issue #39): Dalton Investments, Inc. (Las Vegas-based investment adviser, CIO James B. Rosenwald III) filed a Japanese large shareholding report on Premium Group Co., Ltd. (securities code 7199, TSE…
- **[Datasection Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (3905.T (JP) · MCAP $469M · Activist Campaigns · Issue #39): First Plus Financial Holdings Pte. Ltd. reduced its stake in Datasection Inc. (3905.T) from 44.23% to 16.34% (large shareholding report).
- **[Chuo Spring Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (5992.T (JP) · MCAP $459M · Capital Returns · Issue #39): Chuo Spring Co., Ltd. (5992.T) authorized a share buyback of up to 4.5 million common shares for up to ¥15 billion (~$95M).
- **[Mitsubishi Kakoki Kaisha, Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (6331.T (JP) · MCAP $389M · Acquisitions · Issue #39): Mitsubishi Kakoki Kaisha (6331.T) will seek shareholder approval to integrate with Tsukishima Holdings Co., Ltd. via an absorption-type company split and share exchange.
- **[CMK Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (6958.T (JP) · MCAP $329M · Activist Campaigns · Issue #39): Fundnote Inc. increased its stake in CMK Corporation (6958.T) to 15.18% from 13.76% (large shareholding report).
- **[Hirakawa Hewtech Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (5821.T (JP) · MCAP $304M · Activist Campaigns · Issue #39): Axium Capital Pte. Ltd. increased its stake in Hirakawa Hewtech Corp. (5821.T) to 10.36% from 9.01% (large shareholding report).
- **[QUICK Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4318.T (JP) · MCAP $293M · Activist Campaigns · Issue #39): Asset Value Investors Limited took a 5.02% stake in QUICK Co., Ltd. (4318.T) through open-market purchases between August 26 and October 20, 2026 (large shareholding report).
- **[V Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (7717.T (JP) · MCAP $280M · Divestitures · Issue #39): closes Nov 30, 2026. V Technology Co., Ltd. (7717.T) will transfer its 40% stake in VSC and 50% stake in IMEC to Tinglin Chuangye Factory (Kunshan) Investment Co., Ltd. for an undisclosed price.
- **[BUSINESS BRAIN SHOWA-OTA INC.](https://specialsitsdigest.com/special-situations-digest-39/)** (9658.T (JP) · MCAP $271M · Divestitures · Issue #39): Business Brain Showa-Ota Inc. (9658.T) will exit its 39.56% stake in Global Security Experts Inc. for $222 million in cash.
- **[BASE, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (4477.T (JP) · MCAP $249M · Activist Campaigns · Issue #39): Hiroyuki Maki and Merco Group Co., Ltd. now jointly own 28.36% of BASE, Inc. (4477.T) following an off-market transfer of 29.9 million shares from Maki to Merco Group at ¥339 (large…
- **[JPMC](https://specialsitsdigest.com/special-situations-digest-39/)** (3276.T (JP) · MCAP $238M · Going-Private · Issue #39): Offer 2,270 yen. Amsterdam1 and Amsterdam2 are taking JPMC (3276.T) private via a management buyout, paying minority holders 2,270 yen per share in cash.
- **[SHARINGTECHNOLOGY Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (3989.T (JP) · MCAP $233M · Tender Offers · Issue #39): Offer ¥1,550. MP-2606 Co., Ltd.'s tender offer for SHARINGTECHNOLOGY Inc. at JPY 1,550 per share succeeded after 21,614,921 shares were tendered, exceeding the 16,030,200-share minimum.
- **[STEP Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (9795.T (JP) · MCAP $211M · Capital Returns · Issue #39): STEP Co., Ltd. (9795.T) raised its fiscal 2026 year-end dividend to ¥47 per share from the prior ¥44 forecast, bringing the full-year dividend to ¥91 versus ¥85 in the prior year.
- **[Fujikura Kasei Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (4620.T (JP) · MCAP $197M · Activist Campaigns · Issue #39): A group of seven filers led by DOE 5 Percent Co., Ltd. now owns 11.7% of Fujikura Kasei (4620.T) (large shareholding report).

### South Korea Special Situations (https://specialsitsdigest.com/korea/)

- **[Samsung Electronics](https://specialsitsdigest.com/special-situations-digest-39/)** (005930.KS (KR) · MCAP $1.1T · Capital Returns · Issue #39): Samsung Electronics (005930.KS) approved a third-quarter cash dividend of 4,601 won per share totaling 30 trillion won.
- **[SK hynix](https://specialsitsdigest.com/special-situations-digest-39/)** (000660.KS (KR) · MCAP $736.8B · Divestitures · Issue #39): SK hynix CEO Kwak Ro-jeong said Solidigm has stopped reviewing a pre-IPO and an IPO, announced Oct. 28 at the Q3 earnings briefing.
- **[SK Innovation Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (096770.KS (KR) · MCAP $16.5B · Acquisitions · Issue #39): closes Jan 1, 2027. SK Innovation Co., Ltd. (096770.KS) is absorbing its subsidiary SK ie Technology Co., Ltd. in a stock-for-stock merger at an exchange ratio of 0.1174540 SK Innovation shares for each SK ie…
- **[Korea Zinc](https://specialsitsdigest.com/special-situations-digest-39/)** (010130.KS (KR) · MCAP $13.0B · Activist Campaigns · Issue #39): Korea Zinc (010130.KS) accused Young Poong and MBK Partners of distorting an audit committee response to fuel a public opinion campaign amid a hostile control dispute.
- **[LG Chem](https://specialsitsdigest.com/special-situations-digest-39/)** (051910.KS (KR) · MCAP $12.9B · Divestitures · Issue #39): LG Chem decided via disclosure to dispose of KRW 2.5 trillion (~$1.9B) worth of its LG Energy Solution stake, with the disposal period set for November 27 to December 24.
- **[Hanmi Pharm Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (128940.KS (KR) · MCAP $3.5B · Activist Campaigns · Issue #39): DXVX sent a shareholder letter on October 23 requesting an independent special audit of Hanmi Pharmaceutical (128940.KS).
- **[S-1 Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (012750.KS (KR) · MCAP $2.5B · Capital Returns · Issue #39): S-1 Corp. launched a self-tender offer for up to 4,545,454 of its own shares (11.96% of shares outstanding) at KRW 99,000 per share, about KRW 450 billion in total (about $333 million), a…
- **[Cheil Worldwide](https://specialsitsdigest.com/special-situations-digest-39/)** (030000.KS (KR) · MCAP $1.4B · Capital Returns · Issue #39): Cheil Worldwide cancelled all treasury shares equal to 12% of total issued shares, with a book value of KRW 282.8 billion (~$211M).
- **[JYP Entertainment](https://specialsitsdigest.com/special-situations-digest-39/)** (035900.KQ (KR) · MCAP $989M · Tender Offers · Issue #39): The NEXROC and SVCV Co., Ltd. announced plans to tender for 25% to 50% of JYP Entertainment (035900.KQ) starting 2026-11-20.
- **[CJ Logistics Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (000120.KS (KR) · MCAP $965M · Capital Returns · Issue #39): CJ Logistics Corporation (000120.KS) plans to distribute 1.1 million treasury shares as an in-kind dividend to shareholders.
- **[KINX, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (093320.KQ (KR) · MCAP $642M · Tender Offers · Issue #39): Korea Internet Infra Holdings LLC plans to launch a tender offer for KINX, Inc. (093320.KQ) to acquire treasury shares and all common shares except those held by Gabia Co., Ltd. Three…
- **[SOLUM Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (248070.KS (KR) · MCAP $526M · Activist Campaigns · Issue #39): Align Partners Asset Management increased its stake in SOLUM Co., Ltd. (248070.KS) to 23.46% through open-market purchases of 120,928 shares (large shareholding report amendment).
- **[Qurient Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (115180.KQ (KR) · MCAP $504M · Rights Offerings · Issue #39): Qurient is raising 105.8 billion won via a rights offering of 7.1 million new shares at 14,900 won per share, via shareholder allocation plus public offering of unsubscribed shares.
- **[Gabia Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (079940.KQ (KR) · MCAP $491M · Tender Offers · Issue #39): Macquarie Asset Management raised its cash tender offer price for Gabia Inc. (079940.KQ) by 10.4%, to KRW 53,000 (~$40) per share from the KRW 48,000 of its first offer, which failed in…
- **[Samsung FN Trust Management Real Estate Investment Company](https://specialsitsdigest.com/special-situations-digest-39/)** (448730.KS (KR) · MCAP $333M · Rights Offerings · Issue #39): Samsung FN Trust Management Real Estate Investment Company (448730.KS) is raising approximately KRW 90.3 billion (~$68M) through a rights issue of 19 million new common shares.
- **[KISCO Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (104700.KS (KR) · MCAP $285M · Acquisitions · Issue #39): Offer KRW 13,000 · closes Mar 2, 2027. KISCO Corp. (104700.KS) called an extraordinary shareholder meeting for January 29, 2027 to vote on a comprehensive share exchange that would make it a wholly owned subsidiary of KISCO…
- **[Golfzon Holdings](https://specialsitsdigest.com/special-situations-digest-39/)** (121440.KQ (KR) · MCAP $235M · Divestitures · Issue #39): MBK Partners signed a stock purchase agreement on October 27, 2026, to sell Golfzon County to a consortium of The Siena Group and CL Asset Management at a reported enterprise value of about…
- **[SIMPAC Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (009160.KS (KR) · MCAP $225M · Capital Returns · Issue #39): SIMPAC (009160.KS) plans to cancel 5.4 million common shares, representing 8.22% of shares outstanding.
- **[STIC Investments, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (026890.KS (KR) · MCAP $194M · Activist Campaigns · Issue #39): Align Partners Asset Management's group now owns 3,242,973 shares of STIC Investments, Inc. (026890.KS), or 8.36%, up from 3,180,499 shares and 7.63%.
- **[Chokwang Leather Co.,Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (004700.KS (KR) · MCAP $177M · Litigation Outcomes · Issue #39): Chokwang Leather (004700.KS) filed a lawsuit on October 28, 2026, seeking approximately KRW 500 million in short-swing profits from its second-largest shareholder, Park Young-ok, who held…
- **[Fidelix Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (032580.KQ (KR) · MCAP $168M · Delistings · Issue #39): Fidelix Co., Ltd. (032580.KQ) has been suspended from trading since October 28, 2026 while the Korea Exchange determines whether the company must undergo a substantive listing-eligibility…
- **[SK Signet Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (260870.KS (KR) · MCAP $137M · Going-Private · Issue #39): SK Inc. agreed to sell SK Signet Inc. (260870.KS) to SK Electlink, an EV-charging platform controlled by Anchor Equity Partners, for up to KRW200 billion, as part of a deal in which the…
- **[Deutsch Motors Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (067990.KQ (KR) · MCAP $80M · Capital Returns · Issue #39): Deutsch Motors Inc. (067990.KQ) resolved to cancel all 1,030,223 treasury shares it held, worth approximately KRW 5 billion, to enhance shareholder value as part of its Value-Up Plan.
- **[KORAMCO THE ONE REIT](https://specialsitsdigest.com/special-situations-digest-39/)** (417310.KS (KR) · MCAP $74M · Liquidations · Issue #39): Koramco The1 Trust Management Real Estate Investment Company (417310.KS) will hold an extraordinary general meeting in Seoul on November 16, 2026 to vote on dissolving and liquidating the…
- **[Sempio Company](https://specialsitsdigest.com/special-situations-digest-39/)** (007540.KS (KR) · MCAP $65M · Acquisitions · Issue #39): Offer KRW 61707 · closes Feb 1, 2027. Sempio Foods Co., Ltd. will absorb Sempio Company (007540.KS) in a merger where Sempio Company shareholders receive 2.0881235 Sempio Foods common shares per share.
- **[BLUEMTEC Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (439580.KQ (KR) · MCAP $49M · Acquisitions · Issue #39): Offer KRW 3,235 · closes Nov 27, 2026. KDB Healthcare Value-Up Limited will become the largest shareholder of BLUEMTEC Co., Ltd. (439580.KQ) by purchasing 7.1 million shares for KRW 3,235 per share in a cash block share transfer.
- **[RFTech Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (061040.KQ (KR) · MCAP $46M · Insolvency · Issue #39): RFTECH (061040.KQ) is raising 24 billion KRW through a 9 billion KRW third-party share allocation and 15 billion KRW in convertible bonds following the commencement of rehabilitation…
- **[Sunny Electronics Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (004770.KS (KR) · MCAP $41M · Activist Campaigns · Issue #39): KX Innovation Co., Ltd. is soliciting proxies to seat four directors and one auditor at Sunny Electronics (004770.KS) to secure a voting quorum.
- **[SEOUL FOOD IND Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (004410.KS (KR) · MCAP $38M · Activist Campaigns · Issue #39): Jung Phil Moon and five related parties increased their stake in SEOUL FOOD IND Co., Ltd. (004410.KS) to 14.37% to influence management rights (large shareholding report).
- **[WOOSUNG Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (006980.KS (KR) · MCAP $37M · Acquisitions · Issue #39): closes Dec 1, 2026. WOOSUNG Co., Ltd. is absorbing its unlisted affiliate Woosung Distribution Co., Ltd. under a merger agreement signed September 4, 2026.
- **[Kwang Myung Electric Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (017040.KS (KR) · MCAP $26M · Delistings · Issue #39): Kwang Myung Electric (017040.KS) was selected for a substantive listing-eligibility review on September 7, 2026.
- **[GreenPlus](https://specialsitsdigest.com/special-situations-digest-39/)** (186230.KQ (KR) · MCAP $24M · Acquisitions · Issue #39): AriBio Holdings and Cosmos Investment Partnership 1 will become the largest shareholders of GreenPlus (186230.KQ) by purchasing 2.3 million shares (20.42%) for ₩10.4 billion (~$7.8M) in a…
- **[Sangji Construction, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (042940.KQ (KR) · MCAP $24M · Rights Offerings · Issue #39): Sangji Construction amended its May 8, 2026 paid-in capital increase report to fix the new-share issue price at KRW 5,000, determined October 28, 2026.
- **[Mirae Asset Global REIT](https://specialsitsdigest.com/special-situations-digest-39/)** (396690.KS (KR) · MCAP $23M · Divestitures · Issue #39): Mirae Asset Global REIT announced on Oct 23 it would sell the FedEx Tampa logistics center in Florida for $58.2 million, 38.4% below its 2021 purchase price of $94.5 million.
- **[Daegu Department Store Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (006370.KS (KR) · MCAP $18M · Divestitures · Issue #39): Daegu Department Store Co., Ltd. (006370.KS) disclosed on October 30, 2026 that Daegu MediCity K Global had not paid a KRW 1.5 billion portion of the first interim payment for the KRW 130…
- **[iWIN Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (090150.KQ (KR) · MCAP $17M · Acquisitions · Issue #39): closes Dec 31, 2026. iWIN Co., Ltd. (090150.KQ) will absorb its 52.85%-owned subsidiary IWIN Auto Co., Ltd. in a small-scale absorption merger. iWIN will issue 192,252 new common shares to IWIN Auto's minority…
- **[iA, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (038880.KQ (KR) · MCAP $17M · Rights Offerings · Issue #39): iA, Inc. (038880.KQ) delayed the timetable for its KRW 10.3 billion (~$7.7M) rights offering of 3.7 million shares to raise operating funds.
- **[Noul Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (376930.KQ (KR) · MCAP $13M · Delistings · Issue #39): Offer 2,500 KRW per share. Noul closed at 2,170 KRW on Oct 26, up 29.94% (500 KRW), its second consecutive upper-limit day after a 29.96% rise to 1,670 KRW on Oct 23.
- **[Sigetronics, Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (429270.KQ (KR) · MCAP $12M · Acquisitions · Issue #39): K&International Co., Ltd. is acquiring control of Sigetronics, Inc. (429270.KQ) for approximately KRW 4 billion through a management-rights transfer agreement.
- **[IBKS No. 24 Special Purpose Acquisition Company](https://specialsitsdigest.com/special-situations-digest-39/)** (469480.KQ (KR) · MCAP $11M · SPACs · Issue #39): closes Dec 22, 2026. LUXCo Co., Ltd. will absorb-merge IBKS No. 24 Special Purpose Acquisition Company (469480.KQ) in a de-SPAC transaction where LUXCo survives and lists on KOSDAQ.

### China Special Situations (https://specialsitsdigest.com/china/)

- **[China Rare Earth](https://specialsitsdigest.com/special-situations-digest-39/)** (000831.SZ (CN) · MCAP $7.6B · Acquisitions · Issue #39): China Rare Earth (000831.SZ) plans to acquire a stake in Zhongxi (Liangshan) Rare Earth Co., Ltd. via a share issuance and matching-funds raise.
- **[Shenzhen Kaifa Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000021.SZ (CN) · MCAP $6.6B · Divestitures · Issue #39): Shenzhen Kaifa Technology (000021.SZ) will publicly list and sell its entire 17.034% stake in unlisted Onna Technology (Shenzhen) Group via the Shenzhen United Property Exchange.
- **[Huaxin Building Materials Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600801.SS (CN) · MCAP $5.7B · Acquisitions · Issue #39): Huaxin Building Materials (600801.SS) signed an exclusivity agreement with Companhia Siderúrgica Nacional (CSN) on 2026-10-30 to acquire CSN's equity in CSN Cimentos Brasil S.A. The…
- **[Sunwoda Electronic Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300207.SZ (CN) · MCAP $4.4B · Divestitures · Issue #39): Xiaomi's wholly-owned subsidiary Hanxing Venture will invest RMB 1.7 billion (~$256M) in Sunwoda EVB for ~RMB 898 million of new registered capital, becoming its third-largest shareholder…
- **[Dajin Heavy Industry Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (002487.SZ (CN) · MCAP $3.3B · Capital Returns · Issue #39): Chairman and actual controller Jin Xin proposed on October 26, 2026, that Dajin Heavy Industry Co., Ltd. (002487.SZ) buy back up to 10% of its issued H-shares.
- **[China Resources Double-Crane Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600062.SS (CN) · MCAP $2.4B · Acquisitions · Issue #39): China Resources Double-Crane plans to buy 188.1 million Lier Chemical shares, 23.50% of total share capital, in cash.
- **[Xizang GaoZheng Explosive Co, Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (002827.SZ (CN) · MCAP $2.2B · Acquisitions · Issue #39): Xizang GaoZheng Explosive Co., Ltd. (002827.SZ) is planning to acquire from Tibet Geology & Mineral Group a 51% interest in Tibet Zilong Mining, a 51% interest in Tibet Ziyuan Copper and…
- **[BGI Genomics Co](https://specialsitsdigest.com/special-situations-digest-39/)** (300676.SZ (CN) · MCAP $2.2B · Other · Issue #39): The US Department of Homeland Security added BGI Genomics Co (300676.SZ), BGI Group, and MGI Tech to the Uyghur Forced Labor Prevention Act Entity List on October 28, 2026.
- **[Shenzhen Gongjin Electronics Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603118.SS (CN) · MCAP $1.6B · Divestitures · Issue #39): Shenzhen Gongjin Electronics Co., Ltd. (603118.SS) is seeking to sell 100% of its subsidiary Shandong Wenyuan Communication Technology via a public listing on the Shenzhen United Equity…
- **[Zotye Automobile Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000980.SZ (CN) · MCAP $1.3B · Insolvency · Issue #39): Zotye Auto (000980.SZ) disclosed on October 22, 2026, that shares in its bankruptcy asset disposal special account used for executing its reorganization plan were frozen by judicial order.
- **[Tinavi Medical Technologies Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (688277.SS (CN) · MCAP $1.1B · Acquisitions · Issue #39): Tinavi Medical Technologies (688277.SS) plans to acquire a 62% stake in Shanghai MicroPort Orthopedics Medical Technology Co., Ltd. through a share issuance and supporting fund raise.
- **[Shenzhen Infinova Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (002528.SZ (CN) · MCAP $1.1B · Divestitures · Issue #39): Shenzhen Infinova Limited (002528.SZ) plans to auction 100% equity of two loss-making subsidiaries, Infinova (Hangzhou) Information System Technology and Xinpu Interconnect (Beijing)…
- **[Xinjiang GuanNong Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600251.SS (CN) · MCAP $1.1B · Divestitures · Issue #39): Xinjiang GuanNong Co., Ltd. (600251.SS) signed a non-binding intent agreement to sell its 51.26% stake in subsidiary Xinjiang Yintong Cotton Industry Co., Ltd. to controlling shareholder…
- **[Hunan Friendship Apollo Commercial Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (002277.SZ (CN) · MCAP $1.0B · Acquisitions · Issue #39): Hunan Friendship Apollo Commercial Co., Ltd. (002277.SZ) is acquiring 100% of Shenzhen Shangyangtong Technology Co., Ltd. through a combination of share issuance and cash (share issuance…
- **[Baosheng Technology Innovation Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600973.SS (CN) · MCAP $1.0B · Divestitures · Issue #39): Baosheng Technology Innovation (600973.SS) is initiating the sale of 100% of Shanghai Anjie Fire-Resistant Intelligent Cable, 100% of Baosheng (Shanghai) Cable Technology, and 95.6998% of…
- **[TIANJIN MOTOR DIES CO., LTD.](https://specialsitsdigest.com/special-situations-digest-39/)** (002510.SZ (CN) · MCAP $914M · Acquisitions · Issue #39): Tianjin Motor Dies (002510.SZ) is pursuing a major asset restructuring to acquire a 60% stake in Dongshi Automotive Technology Group through an issuance of shares and cash, which would…
- **[Zhejiang Zhenyang Development Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603213.SS (CN) · MCAP $913M · Acquisitions · Issue #39): Zhejiang Hu-Hang-Yong Expressway Co., Ltd. is absorbing Zhejiang Zhenyang Development Co., Ltd. (603213.SS) through a share-swap absorption merger.
- **[CECEP Techand Ecology & Environment Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300197.SZ (CN) · MCAP $842M · Divestitures · Issue #39): CECEP Techand Ecology & Environment (300197.SZ) is exiting its ecological protection and environmental governance business in a major related-party asset restructuring with its parent…
- **[Jilin Yatai (Group) Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600881.SS (CN) · MCAP $753M · Divestitures · Issue #39): Jilin Yatai (Group) Co., Ltd. (600881.SS) is seeking to sell a 20.81% stake in Northeast Securities to Changfa Group and a 9% stake to Changchun Financial Holding or its designated…
- **[Shanxi Zhendong Pharmaceutical Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300158.SZ (CN) · MCAP $735M · Acquisitions · Issue #39): Shanxi Zhendong Pharmaceutical Co., Ltd. (300158.SZ) amended the payment and closing schedule for its previously agreed cash purchase of a 53.985% stake in Guangdong Longchuangji…
- **[Changzhou Zhongying Science & Technology Co., Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (300936.SZ (CN) · MCAP $652M · Acquisitions · Issue #39): Changzhou Zhongying Science & Technology (300936.SZ) will pay CNY 559.98 million (~$84M) in cash to acquire a 51% stake in Changzhou Yingzhong Electric Co., Ltd. from three sellers.
- **[China Fortune Land Development Co., Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (600340.SS (CN) · MCAP $639M · Insolvency · Issue #39): China Fortune Land Development (CFLD) is in Langfang Court-supervised pre-reorganization (accepted November 17, 2025), with the China Fortune Land Judicial Restructuring and Liquidation…
- **[Qingdao Foods Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (001219.SZ (CN) · MCAP $585M · Acquisitions · Issue #39): Huatong Group plans to transfer 57.0 million unrestricted tradable shares of Qingdao Food (001219.SZ) to Tsingtao Brewery Group via a private share transfer agreement.
- **[Hainan Haiqi Transportation Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603069.SS (CN) · MCAP $585M · Acquisitions · Issue #39): Hainan Haiqi Transportation Group (603069.SS) plans to acquire control of Hai-Lv Duty Free from its controlling shareholder, Hainan Tourism Investment Group, using cash and/or assets.
- **[Hainan Jingliang Holdings Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000505.SZ (CN) · MCAP $545M · Acquisitions · Issue #39): Offer CNY 6.45. Beijing Capital Agribusiness & Foods Group Co., Ltd. agreed to acquire a 39.68% stake in Hainan Jingliang Holdings (000505.SZ) from Beijing Grain Group for CNY 6.45 per share in cash.
- **[Fujian Start Group Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (600734.SS (CN) · MCAP $517M · Acquisitions · Issue #39): Fujian Start Group Co., Ltd. (*ST Shida) (600734.SS) signed a letter of intent on October 30, 2026, to acquire for cash a controlling stake of at least 51% in Fujian Kaite Technology Co.…
- **[Jiangsu Rijiu Optoelectronics Jointstock Co., Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (003015.SZ (CN) · MCAP $498M · Capital Returns · Issue #39): Jiangsu Rijiu Optoelectronics Jointstock Co., Ltd (003015.SZ) plans to repurchase and cancel RMB 100 million to RMB 200 million of shares at no more than RMB 17.98 per share.
- **[Shenzhen Nanshan Thermal Power Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000037.SZ (CN) · MCAP $477M · Acquisitions · Issue #39): Shenzhen Nanshan Thermal Power (000037.SZ) signed a non-binding intent agreement on October 30, 2026, to acquire between 51% and 70% of Trina Tracker (Jiangsu Changzhou) Co., Ltd. from…
- **[PKU HealthCare Corp., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000788.SZ (CN) · MCAP $475M · Acquisitions · Issue #39): New Advantage International transferred 100% of Synthetic Group equity to Shanghai Hongkang for 1 yuan, with its claims against Synthetic Group and subsidiaries transferred for 30 million…
- **[Zhuhai Kles Technologyco, Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (301314.SZ (CN) · MCAP $466M · Acquisitions · Issue #39): Zhuhai Kles Technologyco, Ltd. (301314.SZ) plans to acquire 100% of Shenzhen Honggang Optoelectronic Packaging Technology Co., Ltd. through share issuance and cash, while raising supporting…
- **[Zhuhai Zhongfu Industrial Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000659.SZ (CN) · MCAP $457M · Divestitures · Issue #39): Zhuhai Zhongfu Industrial (000659.SZ) is selling 100% of Hangzhou Zhongfu Container to Suzhou Kede Refrigeration Technology for an undisclosed cash amount.
- **[Shenzhen Roadrover Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (002813.SZ (CN) · MCAP $455M · Acquisitions · Issue #39): Offer CNY 25 · premium -1.2%. Yuanzhuo Angel is acquiring control of Shenzhen Roadrover Technology (002813.SZ) through a 29.99% stake transfer from Zoomlion for 900 million yuan at CNY 25 per share.
- **[Sleemon Healthy Sleep Technology Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603008.SS (CN) · MCAP $453M · Litigation Outcomes · Issue #39): Sleemon Healthy Sleep Technology (603008.SS) disclosed that the controlling shareholder and concert parties have had their entire 133.9 million share stake, or 36.36%, frozen or subject to…
- **[Shanghai Yahong Moulding Co., Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (603159.SS (CN) · MCAP $440M · Tender Offers · Issue #39): Offer RMB 21.43. Shanghai Feike Investment is acquiring control of Shanghai Yahong (603159.SS) through a 29.99% block transfer and a conditional partial tender offer at RMB 21.43 per share.
- **[Jiangxi Mubang High-Tech Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603398.SS (CN) · MCAP $436M · Insolvency · Issue #39): Jiangxi Mubang High-Tech Co., Ltd. (*ST Mubang) (603398.SS) signed reorganization investment agreements with financial investors Tongling Xincheng and Zhongrun Development on 2026-10-27 to…
- **[Chalkis Health Industry Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (000972.SZ (CN) · MCAP $425M · Insolvency · Issue #39): Chalkis Health Industry Co., Ltd. (000972.SZ) and its wholly owned subsidiary Xinjiang Chalkis Red Tomato Industry Co., Ltd. received a three-month extension of their pre-reorganization…
- **[DO&SHUIHUA Group Co., LTD.](https://specialsitsdigest.com/special-situations-digest-39/)** (002798.SZ (CN) · MCAP $420M · Divestitures · Issue #39): DO&SHUIHUA Group Co., LTD. (002798.SZ), formerly D&O Home, plans to sell 100% of its wholly owned subsidiary Jingdezhen Oshino Ceramics through a public solicitation of potential buyers.
- **[Hubei DP Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (300808.SZ (CN) · MCAP $380M · Acquisitions · Issue #39): Hubei DP Co., Ltd. (300808.SZ) extended the deadline to sign a formal agreement to acquire at least 51% of Shandong Haidi New Energy Technology Co., Ltd. in cash.
- **[Guangdong LianTai Environmental Protection Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (603797.SS (CN) · MCAP $345M · Divestitures · Issue #39): Guangdong LianTai Environmental Protection Co., Ltd. (603797.SS) plans to sell 100% equity in subsidiaries Shantou LianTai Water Co., Ltd. and Hunan LianTai Environmental Protection Co.…
- **[Shandong Longda Meishi Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (002726.SZ (CN) · MCAP $345M · Insolvency · Issue #39): ST Longda (002726.SZ) signed a reorganization investment agreement with three investors, including Tuchi Zhida, as part of a court-supervised restructuring.

### Hong Kong Special Situations (https://specialsitsdigest.com/hong-kong/)

- **[Kuaishou Technology](https://specialsitsdigest.com/special-situations-digest-39/)** (1024.HK (HK) · MCAP $14.6B · Divestitures · Issue #39): Kuaishou Technology (1024.HK) completed a 19.8 billion yuan ($2.98 billion) fundraising round for its AI unit Beijing Kling.
- **[Orient Securities Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (3958.HK (HK) · MCAP $9.7B · Acquisitions · Issue #39): Orient Securities Company Limited (3958.HK) is acquiring 100% of Shanghai Securities through a combination of cash and the issuance of A shares.
- **[ASMPT Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0522.HK (HK) · MCAP $6.5B · Strategic Reviews · Issue #39): IDG Capital is the most advanced bidder for ASMPT's surface mount technology (SMT) unit, in a deal that could value the unit at over $1 billion, per three sources.
- **[Li Ning Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (2331.HK (HK) · MCAP $4.2B · Capital Returns · Issue #39): Li Ning Company Limited announced a board meeting on Thursday, 5 November 2026 to consider and approve the declaration of a special dividend to shareholders.
- **[Guotai Junan International Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1788.HK (HK) · MCAP $3.5B · Going-Private · Issue #39): Guotai Haitong Financial Holdings Limited is moving to privatize Guotai Junan International Holdings Limited (1788.HK) via a scheme of arrangement under Section 673 of the Companies…
- **[Evergrande Property Services Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (6666.HK (HK) · MCAP $1.4B · Tender Offers · Issue #39): Offer HK$0.8359. Everest Holdings I Limited, a PAG platform, agreed on 28 October 2026 to acquire 5,515,229,000 shares, or 51.016% of Evergrande Property Services Group Limited (6666.HK), for HK$4.026…
- **[Haitong Unitrust International Financial Leasing Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (1905.HK (HK) · MCAP $1.4B · Tender Offers · Issue #39): Shanghai International Group proposes to buy 51% of Haitong Unitrust International Financial Leasing Co., Ltd. (1905.HK) for about HK$9.09 billion in cash through pre-conditional voluntary…
- **[China Travel International Investment Hong Kong Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0308.HK (HK) · MCAP $808M · Spin-Offs · Issue #39): China Travel International Investment Hong Kong Limited (0308.HK) is spinning off its subsidiary HKM Culture and Tourism via a distribution-in-specie.
- **[Harbin Bank Co., Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (6138.HK (HK) · MCAP $399M · Divestitures · Issue #39): Harbin Bank Co., Ltd. (6138.HK) conditionally agreed to sell a portfolio of credit and financial investment assets to Harbin Chengyin Asset Operation Co., Ltd. (Chengyin Asset) for RMB93.0…
- **[Public Financial Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0626.HK (HK) · MCAP $324M · Going-Private · Issue #39): Offer HK$2.50 · closes Dec 7, 2026. Public Bank Berhad proposes to take its 73.23%-owned Public Financial Holdings Limited (0626.HK) private via a cash scheme of arrangement at HK$2.50 per share.
- **[SF Real Estate Investment Trust](https://specialsitsdigest.com/special-situations-digest-39/)** (2191.HK (HK) · MCAP $320M · Liquidations · Issue #39): SF Real Estate Investment Trust (2191.HK) agreed on 29 October 2026 to sell all issued shares of SF Logistics Holdings Limited, which holds its four logistics properties in Tsing Yi, Hong…
- **[Get Nice Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0064.HK (HK) · MCAP $310M · Going-Private · Issue #39): closes Nov 5, 2026. Honeylink Agents Limited is taking Get Nice Holdings Limited (0064.HK) private via a scheme of arrangement.
- **[China Shengmu Organic Milk Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1432.HK (HK) · MCAP $255M · Delistings · Issue #39): China Shengmu Organic Milk Limited (1432.HK) faces potential listing cancellation if it fails to restore its public float to the 15% minimum by 2 February 2028.
- **[JBM (Healthcare) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (2161.HK (HK) · MCAP $173M · Divestitures · Issue #39): JBM (Healthcare) Limited (2161.HK) is spinning off its branded TCM products and clinic services business, Po Chai Yuan Ho, for a separate listing on the HKEX Main Board.
- **[Trio Industrial Electronics Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1710.HK (HK) · MCAP $157M · Tender Offers · Issue #39): Luxshare Precision Limited may acquire a 75% stake in Trio Industrial Electronics Group Limited (1710.HK) under a non-binding memorandum of understanding dated 29 September 2026.
- **[Helens International Holdings Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (9869.HK (HK) · MCAP $135M · Capital Returns · Issue #39): Helens International Holdings Company Limited (9869.HK) declared a special dividend of RMB0.04743 per ordinary share to be paid from its share premium account.
- **[IRC Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1029.HK (HK) · MCAP $92M · Rights Offerings · Issue #39): IRC Limited proposes a rights issue of 1 Rights Share for every 2 existing Shares at HK$0.315 per Rights Share, on a non-fully underwritten basis.
- **[Hi Sun Technology (China) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0818.HK (HK) · MCAP $89M · Divestitures · Issue #39): Hi Sun Technology (China) Limited (0818.HK) is moving toward the payment stage of its disposal of interests in Cloopen following the completion of a merger on 28 October 2026.
- **[Apollo Future Mobility Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (860.HK (HK) · MCAP $80M · Acquisitions · Issue #39): Apollo Future Mobility Group Limited (860.HK) extended the long-stop date for its HKD 120 million (~$15M) cash acquisition of Golden Jumbo Limited to 2 November 2026.
- **[Shimao Group](https://specialsitsdigest.com/special-situations-digest-39/)** (0813.HK (HK) · MCAP $74M · Insolvency · Issue #39): Shimao Group (0813.HK) triggered a default on $9.1 billion of restructured offshore debt after a winding-up petition filed by Guotong Trust remained unresolved for 60 days.
- **[China Glass Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (3300.HK (HK) · MCAP $70M · Insolvency · Issue #39): A court accepted a bankruptcy liquidation application against CNG (Weihai) Special Glass Co., Ltd., a non-wholly owned subsidiary of China Glass Holdings Limited (3300.HK), after the…
- **[SCE Intelligent Commercial Management Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (606.HK (HK) · MCAP $59M · Acquisitions · Issue #39): SCE Intelligent Commercial Management Holdings (606.HK), through its wholly owned subsidiary Lofty Idea Enterprises Limited, conditionally agreed on 27 October 2026 to acquire the entire…
- **[SMIT Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (2239.HK (HK) · MCAP $53M · Acquisitions · Issue #39): SMIT Holdings obtained written shareholders' approval of the Transaction on 26 October 2026 from New Kingdom and Mr. Huang, in lieu of a general meeting under Rule 14.44 of the Listing…
- **[Hengdeli Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (3389.HK (HK) · MCAP $49M · Capital Returns · Issue #39): Hengdeli Holdings Limited (3389.HK) will pay a special dividend of HK$0.266 per share after shareholders unanimously approved the resolution by poll.
- **[Zhong Ji Longevity Science Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (767.HK (HK) · MCAP $39M · Acquisitions · Issue #39): Zhong Ji Longevity Science Group (767.HK) amended the terms of its acquisition of 25% of Asian Integrated Cell Laboratory Limited via a fourth supplemental agreement signed 27 October 2026.
- **[Moon Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (1723.HK (HK) · MCAP $37M · Rights Offerings · Issue #39): Moon Inc. (1723.HK) postponed the despatch of its rights issue prospectus to on or before 16 November 2026, delaying a proposal to issue one rights share for every two shares held.
- **[HG Semiconductor Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (6908.HK (HK) · MCAP $30M · Divestitures · Issue #39): Chizhou Hengchuang Linghang Venture Capital Fund Partnership agreed to pay RMB80 million (~$12M) in cash for a 6.9085% stake in Shenzhen Jiahong Semiconductor, a subsidiary of HG…
- **[Green Power Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1870.HK (HK) · MCAP $19M · Rights Offerings · Issue #39): Green Power Group Limited (1870.HK) further delayed the despatch of its rights issue prospectus to on or before 4 November 2026 to finalize information.
- **[Sunshine Oilsands Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (2012.HK (HK) · MCAP $18M · Litigation Outcomes · Issue #39): A court ruled in favor of the Orphan Well Association to take over a project held by Sunshine Oilsands Ltd. (2012.HK) following an AER Order and arrears.
- **[Hang Yick Holdings Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1894.HK (HK) · MCAP $17M · Tender Offers · Issue #39): Offer HK$0.60 (as announced 9 Oct). Ngai Wa Ping is making a voluntary conditional cash partial offer to acquire 30 million shares of Hang Yick Holdings (1894.HK).
- **[Lvji Technology Holdings Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (1745.HK (HK) · MCAP $15M · Divestitures · Issue #39): Lvji Technology Holdings Inc. (1745.HK) agreed to sell non-performing debts of three Ningxia tourism companies to Guangzhou Ning'ao Xincheng Consulting Services Partnership (Limited…
- **[Magnus Concordia Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1172.HK (HK) · MCAP $15M · Divestitures · Issue #39): Magnus Concordia Group Limited (1172.HK) signed an agreement on 26 October 2026 to sell a commercial property in Chengdu to an independent PRC purchaser for RMB17.5 million (~$2.6M)…
- **[Web3 Meta Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (8093.HK (HK) · MCAP $13M · Tender Offers · Issue #39): Offer HK$1.68. Invengo Technology Pte. Ltd. is launching a conditional mandatory cash offer for Web3 Meta Limited (8093.HK) at HK$1.68 per share.
- **[Artgo Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (3313.HK (HK) · MCAP $12M · Rights Offerings · Issue #39): Artgo Holdings Limited (3313.HK) delayed the despatch of its rights issue circular to on or before 19 November 2026, pushing back the full transaction timetable.
- **[Milan Station Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (1150.HK (HK) · MCAP $11M · Rights Offerings · Issue #39): Milan Station Holdings Limited (1150.HK) revised the timetable for its proposed non-underwritten one-for-one rights issue and related share consolidation.
- **[Elate Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (76.HK (HK) · MCAP $9M · Acquisitions · Issue #39): Elate Holdings Limited (76.HK) conditionally agreed to acquire 69% of AOMI Corporation from Han Carvestone International Limited for HK$754.1 million (~$96M).
- **[Litian Pictures Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (9958.HK (HK) · MCAP $8M · Rights Offerings · Issue #39): Litian Pictures Holdings Limited (9958) has further delayed the dispatch of its circular regarding a proposed rights issue, increase in authorized share capital, and change in board lot…
- **[Xiwang Property Holdings Company Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (2088.HK (HK) · MCAP $7M · Delistings · Issue #39): Xiwang Property Holdings Company Limited (2088.HK) will be forced from The Stock Exchange of Hong Kong.
- **[BlockFin Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (0888.HK (HK) · MCAP $6M · Restructuring · Issue #39): BlockFin Holdings Limited (0888.HK), formerly Bison Finance Group Limited, extended a promissory note originally issued for HK$90 million from May 31, 2026 to May 31, 2028.
- **[Satu Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (8392.HK (HK) · MCAP $4M · Rights Offerings · Issue #39): Satu Holdings Limited (8392.HK) proposes a rights issue of up to 100.0 million Rights Shares at HK$0.19 each, raising up to approximately HK$19.0 million (~$2.4M) gross / approximately…

### India Special Situations (https://specialsitsdigest.com/india/)

- **[Reliance Industries](https://specialsitsdigest.com/special-situations-digest-39/)** (RELIANCE.NS (IN) · MCAP $164.6B · Divestitures · Issue #39): Reliance Industries (RELIANCE.NS) listed its telecom arm Jio Platforms on the BSE and NSE today after raising Rs 30,213 crore (~$3.2B) in India's largest-ever IPO.
- **[Coal India Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (COALINDIA.NS (IN) · MCAP $26.2B · Divestitures · Issue #39): Government plans to list IIFCL, Mahanadi Coalfields and South Eastern Coalfields this fiscal year, plus launch a second public InvIT.
- **[Tata Motors Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (544569.BO (IN) · MCAP $15.4B · Acquisitions · Issue #39): Tata Motors Limited (544569.BO), the commercial-vehicle company, completed initial settlement of its EUR 14.40-per-share voluntary tender offer for Italian truckmaker Iveco Group on 30…
- **[GAIL (India) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (GAIL.NS (IN) · MCAP $11.6B · Divestitures · Issue #39): GAIL (India) Limited (GAIL.NS) is transferring six city gas distribution geographical areas to its wholly owned subsidiary GAIL Gas Limited.
- **[Power Finance Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (PFC.NS (IN) · MCAP $11.0B · Acquisitions · Issue #39): Power Finance Corporation (PFC.NS) will absorb REC Ltd in a state-backed absorption merger.
- **[Ambuja Cements](https://specialsitsdigest.com/special-situations-digest-39/)** (AMBUJACEM.NS (IN) · MCAP $9.3B · Acquisitions · Issue #39): Shareholders approved the proposed amalgamations of ACC and Orient Cement with Ambuja Cements, advancing the One Cement Platform initiative.
- **[Indian Overseas Bank](https://specialsitsdigest.com/special-situations-digest-39/)** (IOB.NS (IN) · MCAP $5.9B · Divestitures · Issue #39): The Indian government plans to reduce its stake in Indian Overseas Bank (IOB.NS) to 75% within a year to comply with minimum public-shareholding rules.
- **[Authum Investment & Infrastructure Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (539177.BO (IN) · MCAP $4.5B · Acquisitions · Issue #39): Authum Investment & Infrastructure Limited (539177.BO) and Cosmos Prime Projects Limited received court approval to acquire A A Estates Private Limited.
- **[Dalmia Bharat Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (DALBHARAT.NS (IN) · MCAP $3.0B · Acquisitions · Issue #39): Dalmia Bharat Limited (DALBHARAT.NS) is acquiring Bhilai Jaypee Cement Limited through a resolution plan submitted by its subsidiary, Dalmia Cement (Bharat) Limited.
- **[Castrol India](https://specialsitsdigest.com/special-situations-digest-39/)** (CASTROLIND.NS (IN) · MCAP $2.0B · Tender Offers · Issue #39): Offer ₹194.04. Stonepeak and its partners propose to acquire up to 26% of Castrol India (CASTROLIND.NS) at INR194.04 per share in cash through a mandatory open offer.
- **[Anant Raj Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ANANTRAJ.NS (IN) · MCAP $1.7B · Spin-Offs · Issue #39): Anant Raj Limited (ANANTRAJ.NS) is separating its data center and cloud business into a new listed entity, Ashok Cloud Ltd., via a composite scheme of arrangement.
- **[Devyani International](https://specialsitsdigest.com/special-situations-digest-39/)** (DEVYANI.NS (IN) · MCAP $1.6B · Acquisitions · Issue #39): Devyani International (DEVYANI.NS) will acquire Sapphire Foods India in an all-stock merger via a scheme of arrangement.
- **[Astra Microwave Products Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (532493.BO (IN) · MCAP $1.6B · Spin-Offs · Issue #39): Astra Microwave announced a scheme of arrangement under Regulation 30 (LODR) via BSE filing dated 2026-10-29.
- **[Tata Chemicals](https://specialsitsdigest.com/special-situations-digest-39/)** (TATACHEM.NS (IN) · MCAP $1.5B · Litigation Outcomes · Issue #39): Kenya's High Court ruled on October 23, 2026 that it lacked jurisdiction over Tata Chemicals (TATACHEM.NS) subsidiary Tata Chemicals Magadi Ltd's challenge to a July 28 Ministry of Mining…
- **[IIFL Capital Services Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (IIFLCAPS.NS (IN) · MCAP $1.2B · Tender Offers · Issue #39): FIH Mauritius Investments, a Fairfax India subsidiary, is making a cash open offer at INR 350 per share for up to 26% of IIFL Capital Services Limited (IIFLCAPS.NS) as it takes control.
- **[TSF Investments Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TSFINV.NS (IN) · MCAP $940M · Divestitures · Issue #39): TSF Investments Limited (TSFINV.NS) is selling its entire 3.74% stake in TVS Holdings Limited to the TVS Holdings promoter and promoter group.
- **[Genus Power Infrastructures Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (530343.BO (IN) · MCAP $757M · Capital Returns · Issue #39): Genus Power Infrastructures Limited (530343.BO) approved a tender-offer buyback of up to 4.75 million shares, representing up to 1.56% of outstanding equity, at INR312 per share for…
- **[Medplus Health Services Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (MEDPLUS.NS (IN) · MCAP $734M · Capital Returns · Issue #39): Medplus Health Services Limited (MEDPLUS.NS) will hold a board meeting on 2026-11-06 to consider a share buyback.
- **[VRL Logistics Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (539118.BO (IN) · MCAP $479M · Capital Returns · Issue #39): VRL Logistics Ltd (539118.BO) published its offer-opening advertisement on October 26, 2026 for a tender-offer buyback of up to 8.75 million shares, or 5% of outstanding equity, at INR320…
- **[EFC (I) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (512008.BO (IN) · MCAP $255M · Spin-Offs · Issue #39): EFC (I) Limited (512008.BO) is proceeding with a Scheme of Arrangement under which its wholly owned subsidiary EFC Limited (the demerged company) demerges its undertaking into listed EFC…
- **[Oricon Enterprises Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ORICONENT.NS (IN) · MCAP $93M · Divestitures · Issue #39): Oricon Enterprises Limited (ORICONENT) sold a building and assigned leasehold rights in the land to Anand Rathi Towers Limited for cash consideration of Rs 145 crore (~$15M).
- **[Hitech Corporation Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (HITECHCORP.NS (IN) · MCAP $74M · Delistings · Issue #39): Offer ₹426. Geetanjali Trading and Investments, a promoter-group entity, acquired 3.0 million shares of Hitech Corporation Limited (HITECHCORP.NS) at ₹426 per share to facilitate a voluntary delisting…
- **[Sunita Tools Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (544001.BO (IN) · MCAP $70M · Acquisitions · Issue #39): Sunita Tools Limited (544001.BO) signed an agreement on October 24, 2026, to acquire 50% of the share capital and voting rights of a Bulgarian defence company for cash.
- **[GTPL Hathway Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (GTPL.NS (IN) · MCAP $64M · Acquisitions · Issue #39): GTPL Hathway Limited (GTPL.NS) extended the completion timeline for its acquisition of the remaining 74% equity stake in DL GTPL Cabnet Private Limited.
- **[Neueon Corporation Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (NEUEON.NS (IN) · MCAP $63M · Divestitures · Issue #39): Neueon Corporation Limited (NEUEON.NS) approved the sale of its entire undertaking in Telangana to Aparna Enterprises Limited on October 22, 2026.
- **[Supreme Infrastructure India Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (SUPREMEINF.NS (IN) · MCAP $57M · Insolvency · Issue #39): Supreme Infrastructure India Limited (SUPREMEINF.NS) received a court extension until October 31, 2026, to complete payments and implementation of its Scheme of Compromise.
- **[Bigbloc Construction Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (BIGBLOC.NS (IN) · MCAP $52M · Divestitures · Issue #39): Bigbloc Construction's board approved a proposed IPO of material subsidiary Bigbloc Building Elements Limited, subject to shareholder consent and statutory regulatory approvals.
- **[Niyogin Fintech Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (538772.BO (IN) · MCAP $50M · Acquisitions · Issue #39): Niyogin Fintech Limited (538772.BO) held a secured creditors meeting on October 30, 2026, to vote on a composite scheme of arrangement and amalgamation with Niyogin Finserv Limited and…
- **[POCL Enterprises Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (539195.BO (IN) · MCAP $36M · Acquisitions · Issue #39): POCL Enterprises Limited (539195.BO) is absorbing Planetfirst Green Private Limited through a scheme of amalgamation involving the issuance of new equity shares to Planetfirst's equity and…
- **[Ekansh Concepts Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (531364.BO (IN) · MCAP $28M · Acquisitions · Issue #39): Ekansh Concepts Limited (531364.BO) will absorb Sankalp Industrial Infratech Private Limited in a merger by absorption.
- **[Shivam Autotech](https://specialsitsdigest.com/special-situations-digest-39/)** (532776.BO (IN) · MCAP $19M · Rights Offerings · Issue #39): Three investors applied for 17.5 million shares in a rights issue for Shivam Autotech (532776.BO) that opened October 28, 2026.
- **[Crescentis Capital Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (511571.BO (IN) · MCAP $18M · Rights Offerings · Issue #39): Crescentis Capital Limited (511571.BO) is seeking to raise up to Rs 80 crores (~$8.4M) through a rights issue.
- **[Tilak Ventures Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (503663.BO (IN) · MCAP $17M · Spin-Offs · Issue #39): Tilak Ventures' board approved on October 27, 2026 the demerger of its Commodities (Trading) Activities division into Tilak Jewels Limited.
- **[Fresita Proteins Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (519242.BO (IN) · MCAP $13M · Rights Offerings · Issue #39): Fresita Proteins Limited (519242.BO) is launching a rights issue of 7.5 million shares at ₹120 per share to raise ₹897.6 million (~$9.5M) (rights issue letter of offer).
- **[Suvidhaa Infoserve Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (SUVIDHAA.NS (IN) · MCAP $5M · Rights Offerings · Issue #39): Suvidhaa Infoserve Limited (SUVIDHAA) is issuing equity shares on a rights basis at a price of ₹1.50 per share.
- **[Cyber Media (India) Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (CYBERMEDIA.NS (IN) · MCAP $4M · Acquisitions · Issue #39): Cyber Media (India) Limited (CYBERMEDIA.NS) will absorb Cyber Media Research & Services Limited in a stock-for-stock merger where CMRS shareholders receive 35 Cyber Media (India) shares for…
- **[Reliance Industries Limited](https://specialsitsdigest.com/special-situations-digest-38/)** (RELIANCE.NS (IN) · MCAP $169.6B · Divestitures · Issue #38): Reliance Industries Limited (RELIANCE.NS) is carving out Jio Platforms Limited through an IPO of 270 million new shares raising ₹30,213 crore (~$3.2B), priced at ₹1,065 (~$11) to ₹1,119…
- **[Adani Ports and Special Economic Zone](https://specialsitsdigest.com/special-situations-digest-38/)** (ADANIPORTS.NS (IN) · MCAP $41.3B · Divestitures · Issue #38): Mediterranean Shipping Company (MSC) agreed to buy a 49% stake in Adani Vizhinjam Port Private Limited from Adani Ports and Special Economic Zone (ADANIPORTS.NS) for $1.4 billion in cash.
- **[Vodafone Idea](https://specialsitsdigest.com/special-situations-digest-38/)** (IDEA.NS (IN) · MCAP $13.0B · Restructuring · Issue #38): An SBI-led bank consortium is considering ₹25,000 crore (~$2.6B) of debt funding for Vodafone Idea (IDEA.NS).
- **[Persistent Systems](https://specialsitsdigest.com/special-situations-digest-38/)** (PERSISTENT.NS (IN) · MCAP $9.5B · Acquisitions · Issue #38): Persistent Systems (PERSISTENT.NS) has secured approximately 94.04% of Nagarro's share capital, excluding treasury shares, through tender acceptances and its Lantano purchase agreement; the…

### Australia Special Situations (https://specialsitsdigest.com/australia/)

- **[BHP Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (BHP.AX (AU) · MCAP $207.6B · Litigation Outcomes · Issue #39): BHP Group Limited (BHP.AX) and Rio Tinto failed to strike out class action claims regarding workplace harassment by former employees.
- **[Fortescue](https://specialsitsdigest.com/special-situations-digest-39/)** (FMG.AX (AU) · MCAP $31.3B · Activist Campaigns · Issue #39): Proxy adviser Glass Lewis recommended that Fortescue shareholders vote against the re-election of Mark Barnaba and Larry Marshall at the October 28, 2026 annual meeting.
- **[Ramsay Health Care](https://specialsitsdigest.com/special-situations-digest-39/)** (RHC.AX (AU) · MCAP $9.0B · Spin-Offs · Issue #39): Ramsay Health Care (RHC.AX) will distribute its 52.79% stake in Ramsay Santé to shareholders via a demerger.
- **[Challenger Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (CGF.AX (AU) · MCAP $5.7B · Going-Private · Issue #39): Offer A$11.80. Challenger Limited (CGF.AX) rejected a nonbinding offer from its largest shareholder, TAL Dai-ichi Life, to acquire the remaining 79.5% of ordinary shares for $11.80 per share in cash via a…
- **[Steadfast Group Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (SDF.AX (AU) · MCAP $4.5B · Going-Private · Issue #39): Steadfast Group Ltd (SDF.AX) is subject to a proposed scheme of arrangement under which Starboard BidCo, an entity indirectly owned by funds affiliated with Dragoneer and KKR, would acquire…
- **[Endeavour Group](https://specialsitsdigest.com/special-situations-digest-39/)** (EDV.AX (AU) · MCAP $4.3B · Activist Campaigns · Issue #39): The Mathieson family, the largest shareholder of Endeavour Group (EDV.AX), expressed public dissatisfaction with executive pay and company returns at an October 2026 meeting.
- **[Dexus](https://specialsitsdigest.com/special-situations-digest-39/)** (DXS.AX (AU) · MCAP $4.2B · Liquidations · Issue #39): Dexus (DXS.AX) is seeking investor approval to wind up the A$2.1 billion Dexus Diversified Infrastructure Trust.
- **[Reliance Worldwide Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (RWC.AX (AU) · MCAP $2.3B · Acquisitions · Issue #39): A company acting on behalf of Brookfield Capital Partners LLC is pursuing a takeover of Reliance Worldwide Corporation (RWC.AX) via a scheme of arrangement at US$3.38 cash per share (about…
- **[Ingenia Communities Group](https://specialsitsdigest.com/special-situations-digest-39/)** (INA.AX (AU) · MCAP $1.5B · Going-Private · Issue #39): Offer A$5.45 cash per stapled security (up to $5.50 including the Permitted Distribution). Ingenia Communities Group (INA.AX) has two rival non-binding cash proposals, each by scheme of arrangement.
- **[Tabcorp Holdings Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TAH.AX (AU) · MCAP $1.4B · Acquisitions · Issue #39): Tabcorp Holdings Limited (TAH.AX) agreed to acquire BetMakers Technology Group for $0.24 per share via a scheme of arrangement.
- **[Perpetual Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (PPT.AX (AU) · MCAP $1.4B · Divestitures · Issue #39): Perpetual held its 2026 AGM on October 29, 2026.
- **[Austal Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ASB.AX (AU) · MCAP $1.4B · Divestitures · Issue #39): Wildcat Infrastructure LLC submitted a non-binding proposal to buy Austal Limited's (ASB.AX) U.S. business, including its shipyard unit Austal USA, at a cash-free, debt-free enterprise…
- **[Star Entertainment](https://specialsitsdigest.com/special-situations-digest-39/)** (SGR.AX (AU) · MCAP $607M · Litigation Outcomes · Issue #39): An Australian federal court ordered Star Entertainment (SGR.AX) to pay an A$260 million (~$183M) penalty for breaching anti-money laundering and counter-terrorism financing laws.
- **[oOh!media Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (OML.AX (AU) · MCAP $570M · Acquisitions · Issue #39): Offer A$1.68 · closes Dec 10, 2026. OOH BidCo, a vehicle for I Squared Capital, is acquiring oOh!media Limited (OML.AX) for A$1.68 per share in cash via a scheme of arrangement.
- **[Amotiv](https://specialsitsdigest.com/special-situations-digest-39/)** (AOV.AX (AU) · MCAP $530M · Litigation Outcomes · Issue #39): HiViz is suing Amotiv (AOV.AX) for A$106 million (~US$75M) in damages over claims of unconscionable conduct.
- **[Peet Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (PPC.AX (AU) · MCAP $470M · Acquisitions · Issue #39): Offer A$0.68 · premium 17.1%. Ingenia Communities signalled it intends to abandon the agreed Peet acquisition in favour of a rival approach from private equity firm Warburg Pincus.
- **[AIC Mines](https://specialsitsdigest.com/special-situations-digest-39/)** (A1M.AX (AU) · MCAP $388M · Acquisitions · Issue #39): AIC Mines (A1M.AX) entered binding agreements to acquire Materra Metals, owner of the Mt Cuthbert Copper Project, for A$120 million.
- **[Accent Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (AX1.AX (AU) · MCAP $275M · Tender Offers · Issue #39): Offer A$0.65. Frasers Group plc declared its unsolicited cash takeover bid for Accent Group Limited (AX1.AX) at A$0.65 per share as its best and final offer.
- **[MGX Resources Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (MGX.AX (AU) · MCAP $244M · Divestitures · Issue #39): MGX Resources Limited (MGX.AX) is progressing the divestment of its Koolan Island operation to Crestlink Koolan Pty Ltd for at least $20.2 million in up-front and deferred consideration.
- **[Atlantic Lithium Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (A11.AX (AU) · MCAP $171M · Acquisitions · Issue #39): Offer US$0.25486 · premium 26.6%. Atlantic Lithium received FIRB approval for its proposed acquisition by Zhejiang Huayou Cobalt under the Scheme Implementation Deed signed May 7, 2026.
- **[Carnaby Resources Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (CNB.AX (AU) · MCAP $153M · Acquisitions · Issue #39): Evolution Mining Limited will acquire Carnaby Resources Limited (CNB.AX) for an estimated A$218 million (~$153M) in stock via a scheme of arrangement.
- **[Alcidion Group Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ALC.AX (AU) · MCAP $109M · Capital Returns · Issue #39): Alcidion Group Limited (ALC.AX) will repurchase up to 135 million ordinary shares through an on-market share buyback.
- **[Big River Industries Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (BRI.AX (AU) · MCAP $72M · Strategic Reviews · Issue #39): Big River Industries Ltd (BRI.AX) has engaged Greenstone Partners to assess strategic options for the company.
- **[OFX Group](https://specialsitsdigest.com/special-situations-digest-39/)** (OFX.AX (AU) · MCAP $63M · Busted M&A · Issue #39): Offer A$1.00. Alakazam Holdings Bidco Limited ended its exclusivity period to acquire OFX (OFX.AX) after failing to reconfirm a proposed A$1.00 per share cash offer by the Friday deadline.
- **[Hammer Metals](https://specialsitsdigest.com/special-situations-digest-39/)** (HMX.AX (AU) · MCAP $45M · Acquisitions · Issue #39): Hammer entered a scheme implementation deed with Austral Resources Australia Ltd on 11 August 2026, after terminating its deed with Larvotto Resources Limited the same day.
- **[Anson Resources Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ASN.AX (AU) · MCAP $41M · Activist Campaigns · Issue #39): Anson Resources Limited (ASN.AX) is facing a contested director election after shareholder Craig Graham, who held less than 0.5% of the company's shares as of October 5, 2026, nominated…
- **[Zenith Minerals](https://specialsitsdigest.com/special-situations-digest-39/)** (ZNC.AX (AU) · MCAP $32M · Tender Offers · Issue #39): Offer 13.2 cents · premium 46.7%. Forrestania Resources extended its off-market takeover offer for Zenith Minerals (ZNC.AX) to November 12, offering 1 new Forrestania share for every 4.3 Zenith shares held (stock).
- **[Terramin Australia Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (TZN.AX (AU) · MCAP $29M · Rights Offerings · Issue #39): Terramin Australia Limited (TZN.AX) issued 1,452,931,465 shares (about 1.45 billion) on October 26, 2026 at A$0.018 per share under its non-renounceable rights issue, representing…
- **[DGR Global](https://specialsitsdigest.com/special-situations-digest-39/)** (DGR.AX (AU) · MCAP $28M · Litigation Outcomes · Issue #39): The Australian Takeovers Panel ordered the sale of shares held by associates of managing director Nicholas Mather after finding unacceptable circumstances in DGR Global (DGR.AX) share…
- **[Kip McGrath Education Centres Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (KME.AX (AU) · MCAP $26M · Tender Offers · Issue #39): Offer A$0.75 (as announced 22 Oct) · premium 66.7%. Crimson Consulting Australia Pty Ltd will compulsorily acquire all remaining shares of Kip McGrath Education Centres Limited (KME.AX) after reaching a 91.40% stake.
- **[Fitzroy River Corporation Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (FZR.AX (AU) · MCAP $23M · Capital Returns · Issue #39): Fitzroy River Corporation Ltd (FZR.AX) sold its Silver Mines shares to complete the monetization of an A$17.5 million Bowdens royalty sale.
- **[Zuleika Gold Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (ZAG.AX (AU) · MCAP $20M · Busted M&A · Issue #39): CZR Resources Ltd withdrew its off-market takeover bid for 100% of Zuleika Gold Limited (ZAG.AX), effective 8:00pm (AEDT) on 30 October 2026.
- **[Genetic Signatures Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (GSS.AX (AU) · MCAP $13M · Acquisitions · Issue #39): BCAL Diagnostics opposes the merger of Genetic Signatures Limited (GSS.AX) and Microba Life Sciences Limited, arguing the terms undervalue the target.
- **[Impact Minerals](https://specialsitsdigest.com/special-situations-digest-39/)** (IPT.AX (AU) · MCAP $9M · Strategic Reviews · Issue #39): Impact Minerals (IPT.AX) concluded a strategic review to prioritize its Lake Hope high-purity alumina project and monetize its Broken Hill assets.
- **[Celsius Resources](https://specialsitsdigest.com/special-situations-digest-39/)** (CLA.AX (AU) · MCAP $9M · Restructuring · Issue #39): Equinaire Holdings won a public auction for a 40% stake in Makilala Mining Company Inc. using a US$5.0 million credit bid.
- **[Somerset Minerals Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (SMM.AX (AU) · MCAP $8M · Divestitures · Issue #39): Lundin Gold Inc. made a non-binding indicative proposal to acquire Condor Gold S.A., a wholly-owned Ecuadorian subsidiary of Somerset Minerals Ltd (SMM.AX), for US$5.25 million.
- **[Desert Metals Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (DM1.AX (AU) · MCAP $4M · Divestitures · Issue #39): Desert Metals Limited (DM1.AX) announced on October 27, 2026 that it had entered into a binding agreement with Canadian-listed Waraba Gold to sell its 80% interest in the Tengrela South…
- **[Woodside Energy](https://specialsitsdigest.com/special-situations-digest-38/)** (WDS.AX (AU) · MCAP $44.0B · Divestitures · Issue #38): Woodside (WDS.AX) agreed to sell its 70% operated interest in Trinidad and Tobago's Calypso Project to bp; no price was disclosed.
- **[Northern Star Resources](https://specialsitsdigest.com/special-situations-digest-38/)** (NST.AX (AU) · MCAP $25.1B · Strategic Reviews · Issue #38): Northern Star Resources (NST.AX) is assessing its assets for potential sales under new CEO Suresh Vadnagra.
- **[Northern Star](https://specialsitsdigest.com/special-situations-digest-38/)** (NST.AX (AU) · MCAP $24.2B · Acquisitions · Issue #38): Northern Star (NST.AX) is reportedly open to talks with Gold Fields, with its CEO saying he has no red line on price, according to an AFR report.

### United Kingdom Special Situations (https://specialsitsdigest.com/uk/)

- **[Unilever](https://specialsitsdigest.com/special-situations-digest-39/)** (ULVR.L (UK) · MCAP $140.1B · Busted M&A · Issue #39): Dutch regulator ACM blocked the sale of Unilever (ULVR.L) soup and sausage brand Unox to Zwanenberg Food Group.
- **[Glencore](https://specialsitsdigest.com/special-situations-digest-39/)** (GLEN.L (UK) · MCAP $84.6B · Divestitures · Issue #39): Glencore (GLEN.L) is in talks to sell a 40% stake in its DR Congo interests to Orion CMC in a deal that values those DRC assets (Mutanda and Kamoto Copper) at about $9.0 billion including…
- **[Associated British Foods](https://specialsitsdigest.com/special-situations-digest-39/)** (ABF.L (UK) · MCAP $17.6B · Spin-Offs · Issue #39): Associated British Foods (ABF.L) is spinning off its Primark fashion arm in a retail demerger.
- **[Segro](https://specialsitsdigest.com/special-situations-digest-39/)** (SGRO.L (UK) · MCAP $16.3B · Acquisitions · Issue #39): Prologis is acquiring SEGRO plc (SGRO.L) in a recommended transaction valued at roughly £14 billion.
- **[Intertek Group PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (ITRK.L (UK) · MCAP $12.1B · Going-Private · Issue #39): EQT is taking Intertek Group PLC (ITRK.L) private following shareholder approval.
- **[Whitbread](https://specialsitsdigest.com/special-situations-digest-39/)** (WTB.L (UK) · MCAP $6.1B · Activist Campaigns · Issue #39): Royal London Asset Management, holding roughly 1.2% of Whitbread, publicly backed management's campaign to resist Corvex's board-seat demand.
- **[Plus500](https://specialsitsdigest.com/special-situations-digest-39/)** (PLUS.L (UK) · MCAP $3.1B · Acquisitions · Issue #39): Plus500 (PLUS.L) has conditionally agreed to acquire Hedge Capital Markets Inc. in a cash transaction for an undisclosed price.
- **[HarbourVest Global Private Equity Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (HVPE.L (UK) · MCAP $3.1B · Capital Returns · Issue #39): HarbourVest Global Private Equity Ltd. (HVPE.L) launched a tender offer to return up to US$400 million to shareholders, subject to approval at a November 16, 2026 EGM.
- **[Bodycote plc](https://specialsitsdigest.com/special-situations-digest-39/)** (BOY.L (UK) · MCAP $2.1B · Acquisitions · Issue #39): Vulcan Alpha Bidco Limited, a vehicle indirectly owned by funds managed or controlled by Veritas Capital, updated the financing for its recommended cash acquisition of Bodycote plc (BOY.L)…
- **[Vesuvius](https://specialsitsdigest.com/special-situations-digest-39/)** (VSVS.L (UK) · MCAP $1.5B · Acquisitions · Issue #39): RHI Magnesita extended the deadline for a possible offer for Vesuvius (VSVS.L) to 24 November 2026.
- **[Spire Healthcare Group plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SPI.L (UK) · MCAP $1.3B · Going-Private · Issue #39): Shareholders of Spire Healthcare Group plc (SPI.L) approved the recommended 250 pence per share cash take-private by Tulip UK Bidco Limited, the bid vehicle of a consortium of funds linked…
- **[Oakley Capital Investments Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (OCI.L (UK) · MCAP $1.2B · Divestitures · Issue #39): OCI agreed to sell £272m (~$364M) of stakes in five Oakley Capital private equity funds to Carlyle AlpInvest for £257m (~$344M), a 5.75% discount to the funds' value.
- **[Rockhopper Exploration](https://specialsitsdigest.com/special-situations-digest-39/)** (RKH.L (UK) · MCAP $900M · Litigation Outcomes · Issue #39): A federal court in Río Grande upheld an injunction against Rockhopper Exploration (RKH.L) and Navitas Petroleum regarding hydrocarbon exploitation in the Malvinas Islands.
- **[Baillie Gifford Japan Trust PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (BGFD.L (UK) · MCAP $890M · Capital Returns · Issue #39): Baillie Gifford Japan Trust PLC (BGFD.L) announced a conditional self-tender offer to buy back up to 25% of its shares in cash if its NAV total return fails to exceed the Topix index over…
- **[Harworth Group PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (HWG.L (UK) · MCAP $807M · Going-Private · Issue #39): Offer 187p (as announced 14 Oct). Peel Pepper (UK) Limited (BidCo), an indirect wholly owned subsidiary of Peel Holdings Group Limited, is acquiring Harworth Group PLC (HWG.L) through its unconditional best and final cash…
- **[Auction Technology Group](https://specialsitsdigest.com/special-situations-digest-39/)** (ATG.L (UK) · MCAP $790M · Activist Campaigns · Issue #39): FitzWalter Capital, ATG's largest shareholder with a 27.2% stake, has proposed the removal of chair Scott Forbes and appointment of current board member Richard Campbell-Breeden in his…
- **[RTW Biotech Opportunities Ltd](https://specialsitsdigest.com/special-situations-digest-39/)** (RTW.L (UK) · MCAP $751M · SPACs · Issue #39): RTW Biotech Opportunities Ltd (RTW.L) noted that portfolio company Corxel Pharmaceuticals, Inc. (Corxel US) entered a definitive business combination agreement with SPAC Amanat Acquisition…
- **[Foresight Environmental Infrastructure Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (FGEN.L (UK) · MCAP $728M · Divestitures · Issue #39): Foresight Environmental Infrastructure Limited (FGEN.L) signed an agreement to sell its remaining 49% interest in six gas-to-grid anaerobic digestion facilities to Future Biogas for £104.0…
- **[Mobico Group PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (MCG.L (UK) · MCAP $359M · Going-Private · Issue #39): Offer GBP 0.46 · premium approximately. Leita Mobility, a subsidiary of Autobuses de León, agreed to acquire Mobico Group PLC (MCG.L) for 46 pence per share in cash through a scheme of arrangement.
- **[Future](https://specialsitsdigest.com/special-situations-digest-39/)** (FUTR.L (UK) · MCAP $340M · Divestitures · Issue #39): Future (FUTR.L) rebuffed indicative interest from advisers claiming to act for DMGT to acquire its current affairs magazine, The Week, for roughly £120 million (~$160M).
- **[Aberdeen UK Smaller Companies Growth Trust plc](https://specialsitsdigest.com/special-situations-digest-39/)** (AUSC.L (UK) · MCAP $310M · Acquisitions · Issue #39): JPMorgan UK Small Cap Growth & Income plc (JUGI) will acquire Aberdeen UK Smaller Companies Growth Trust plc (AUSC.L) via a members' voluntary winding up (Section 110 scheme of…
- **[Tribal Group plc](https://specialsitsdigest.com/special-situations-digest-39/)** (TRB.L (UK) · MCAP $289M · Liquidations · Issue #39): Tribal Group plc (TRB.L) shareholders approved the sale of its operating businesses to Thames Bidco Limited, controlled by Main Capital Partners, at the 26 October General Meeting, with…
- **[Kenmare Resources PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (KMR.L (UK) · MCAP $271M · Going-Private · Issue #39): International Resources Holdings has made a non-binding possible cash offer for Kenmare Resources (KMR).
- **[Afentra plc](https://specialsitsdigest.com/special-situations-digest-39/)** (AET.L (UK) · MCAP $264M · Acquisitions · Issue #39): Afentra plc (AET.L) is acquiring additional interests in offshore Angola Blocks 3/05 and 3/05A from Etu Energias S.A. to increase its holdings to 33.33% and 24.99% respectively.
- **[Eleco plc](https://specialsitsdigest.com/special-situations-digest-39/)** (ELCO.L (UK) · MCAP $256M · Acquisitions · Issue #39): Eleco plc (ELCO.L) shareholders approved an all-cash acquisition by Avocet Bidco Limited, a vehicle owned by Accel-KKR funds.
- **[Scancell Holdings Plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SCLP.L (UK) · MCAP $146M · Acquisitions · Issue #39): Scancell Holdings Plc (SCLP.L) plans an all-share merger with Neuphoria Therapeutics, with the combined company seeking a Nasdaq listing.
- **[EJF Investments Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (EJFI.L (UK) · MCAP $107M · Capital Returns · Issue #39): EJF Investments Limited (EJFI.L) launched a cash tender offer to buy and cancel up to 2.9 million shares, representing 5% of shares in issue.
- **[First Tin PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (1SN.L (UK) · MCAP $94M · Going-Private · Issue #39): Metals X submitted an unsolicited, indicative and non-binding cash proposal to acquire the First Tin PLC (1SN.L) shares it does not already own for 15 pence per share.
- **[Schroder BSC Social Impact Trust plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SBSI.L (UK) · MCAP $82M · Strategic Reviews · Issue #39): Schroder BSC Social Impact Trust plc (SBSI.L) is conducting a strategic review to address a 31.4% discount to NAV.
- **[Alternative Income REIT PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (AIRE.L (UK) · MCAP $75M · Going-Private · Issue #39): Offer 70 pence. Glenstone REIT PLC's final recommended cash offer for Alternative Income REIT PLC is 70 pence per share in cash; terms are final and will not be increased.
- **[Everyman Media Group plc](https://specialsitsdigest.com/special-situations-digest-39/)** (EMAN.L (UK) · MCAP $64M · Delistings · Issue #39): Everyman Media Group (EMAN.L) will cancel its AIM listing after shareholders approved the move with 99.23% of votes cast in favor.
- **[VPC Specialty Lending Investments PLC](https://specialsitsdigest.com/special-situations-digest-39/)** (VSL.L (UK) · MCAP $45M · Capital Returns · Issue #39): VPC Specialty Lending Investments PLC (VSL.L) declared a special dividend of 3.25 pence per share to return substantially all of the £9.3 million (~$12M) in proceeds from the full repayment…
- **[Shoe Zone plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SHOE.L (UK) · MCAP $42M · Capital Returns · Issue #39): Shoe Zone announced a share buyback programme of up to approximately £3.5 million (~$4.7M) of ordinary shares.
- **[Zenith Energy Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (ZEN.L (UK) · MCAP $39M · Litigation Outcomes · Issue #39): Zenith Energy Ltd. (ZEN.L) engaged former US Secretary of State Michael Pompeo and CNQ Global Advisors as strategic advisors on October 27, 2026.
- **[Sareum Holdings plc](https://specialsitsdigest.com/special-situations-digest-39/)** (SAR.L (UK) · MCAP $30M · Other · Issue #39): Sareum Holdings plc (SAR.L) conditionally raised approximately GBP 3.2 million through 22.8 million subscription shares at 14 pence each, a 49% discount to the 27.5 pence closing price on…
- **[Quadrise plc](https://specialsitsdigest.com/special-situations-digest-39/)** (QED.L (UK) · MCAP $29M · Strategic Reviews · Issue #39): Quadrise plc (AIM:QED) launched a Strategic Review to identify and assess strategic, corporate, commercial and financing options, including potential partnerships.
- **[IntelliAM AI Plc](https://specialsitsdigest.com/special-situations-digest-39/)** (INT.L (UK) · MCAP $21M · Other · Issue #39): Offer 70.0 pence. IntelliAM AI Plc (INT.L) conditionally raised £6.4 million (~$8.5M) by issuing 9.2 million new ordinary shares at 70.0 pence per share.
- **[Zinc Media Group plc](https://specialsitsdigest.com/special-situations-digest-39/)** (ZIN.L (UK) · MCAP $12M · Other · Issue #39): Zinc Media Group (ZIN.L) launched a retail offer of 833,333 new ordinary shares at 30 pence per share to raise up to £0.25 million (~$334.9K).
- **[Gem Resources Plc](https://specialsitsdigest.com/special-situations-digest-39/)** (GEMR.L (UK) · MCAP $6M · Divestitures · Issue #39): GEMR entered a conditional sale of shares agreement dated 27 October 2026 to sell its entire interest in Gem Venus Holdings, which holds the Gravelotte Emerald Mine in Limpopo Province…
- **[Dekel Agri-Vision Plc](https://specialsitsdigest.com/special-situations-digest-39/)** (DKL.L (UK) · MCAP $6M · Other · Issue #39): Dekel Agri-Vision Plc (DKL.L) is conditionally raising £0.7 million (~$937.7K) through a placing and subscription of 267.3 million shares at GBP 0.0026 per share.

### Canada Special Situations (https://specialsitsdigest.com/canada/)

- **[Brookfield Renewable Partners L.P.](https://specialsitsdigest.com/special-situations-digest-39/)** (BEP-UN.TO (CA) · MCAP $19.6B · Acquisitions · Issue #39): Brookfield Renewable Partners L.P. (BEP-UN.TO) rescheduled its unitholder vote for a corporate simplification plan of arrangement to November 30, 2026, after failing to reach a required…
- **[GFL Environmental Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (GFL.TO (CA) · MCAP $19.6B · Going-Private · Issue #39): Large private equity groups have expressed interest in a potential take-private of GFL Environmental (GFL.TO) valued around $26 billion to more than $30 billion including debt.
- **[Saputo](https://specialsitsdigest.com/special-situations-digest-39/)** (SAP.TO (CA) · MCAP $11.4B · Divestitures · Issue #39): Saputo entered a definitive agreement to sell its Dairy Division (UK) to Lactalis for an enterprise value of approximately £988 million ($1.28 billion).
- **[Athabasca Oil Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (ATH.TO (CA) · MCAP $4.1B · Acquisitions · Issue #39): Offer C$12.00 · premium 14%. Cenovus Energy Inc. agreed to acquire Athabasca Oil Corporation (ATH.TO) for C$12.00 per share in a cash-and-stock plan of arrangement with an implied enterprise value of C$5.7 billion.
- **[Air Canada](https://specialsitsdigest.com/special-situations-digest-39/)** (AC.TO (CA) · MCAP $3.7B · Capital Returns · Issue #39): TSX accepted Air Canada's notice of intention to proceed with a normal course issuer bid for up to 25.2 million Class A variable voting shares and Class B voting shares, to be repurchased…
- **[EQB Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (EQB.TO (CA) · MCAP $3.6B · Divestitures · Issue #39): EQB Inc. (EQB.TO) signed a definitive agreement to sell 100% of Bennington Financial Corp. to Desjardins Group for a price equivalent to an 8% discount of lease receivables.
- **[NGEx Minerals Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (NGEX.TO (CA) · MCAP $3.3B · Spin-Offs · Issue #39): NGEx Minerals Ltd. (NGEX.TO) shareholders approved the spin-off of Valiente Resources Inc. at a special meeting on October 29, 2026.
- **[Logan Energy Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (LGN.V (CA) · MCAP $759M · Acquisitions · Issue #39): Offer C$1.40 · premium approximately. Ovintiv Canada ULC agreed to acquire Logan Energy Corp. (LGN.V) for C$1.40 per share in cash under a plan of arrangement, valuing the deal at about C$1.26 billion (~US$890 million)…
- **[Gold X2 Mining Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (AUXX.V (CA) · MCAP $412M · Spin-Offs · Issue #39): Gold X2 Mining Inc. (AUXX.V) will spin out a 1.0% net smelter return royalty on the Moss Gold Project to a subsidiary, 1602630 B.C. Ltd. (SpinCo), via a plan of arrangement.
- **[Asante Gold Corporation](https://specialsitsdigest.com/special-situations-digest-39/)** (ASE.TO (CA) · MCAP $405M · Restructuring · Issue #39): Asante Gold Corporation (ASE.TO) secured an extension from its senior lenders, stream purchaser, and hedge counterparty to meet a US$100 million funding requirement.
- **[WildBrain Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (WILD.TO (CA) · MCAP $202M · Capital Returns · Issue #39): WildBrain Ltd. (WILD.TO) is seeking to buy back and cancel up to C$20 million (~$14M) of its common shares via a modified Dutch auction (substantial issuer bid).
- **[Sandfire Resources America Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (SFR.V (CA) · MCAP $183M · Strategic Reviews · Issue #39): Sandfire Resources America Inc. (SFR.V) initiated a strategic review to advance its Black Butte copper project and maximize shareholder value.
- **[Ag Growth International Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (AFN.TO (CA) · MCAP $145M · Restructuring · Issue #39): Debentureholders approved amendments to the Third Series 5.25% senior subordinated unsecured debentures of Ag Growth International Inc. (AFN.TO) at an October 28, 2026 meeting.
- **[Mkango Magnetic Materials Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (MKA.V (CA) · MCAP $139M · SPACs · Issue #39): MKAR, Mkango's wholly-owned subsidiary, filed a further amendment to its Form F-4 with the SEC on October 26, 2026 for the business combination with Crown PropTech Acquisitions (CPTK)…
- **[Bunker Hill Mining Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (BNKR.TO (CA) · MCAP $100M · Acquisitions · Issue #39): Bunker Hill Mining Corp. (BNKR.TO) shareholders approved a business combination with Silver47 Exploration Corp. at a special meeting on October 28, 2026.
- **[Invesque Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (IVQ.TO (CA) · MCAP $88M · Going-Private · Issue #39): Offer C$0.101. IVQ Acquisition Inc., a purchaser managed by Magnetar Financial, will pay US$0.101 per share in cash, equivalent to C$0.143 using the September 29, 2026 exchange rate, to take Invesque Inc.…
- **[Barksdale Resources Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (BRO.V (CA) · MCAP $65M · Restructuring · Issue #39): Barksdale Resources Corp. (BRO.V) issued 40.0 million common shares and 5.2 million Creditor Units to Delbrook Resource Opportunities Master Fund LP and Delbrook Resource Opportunities Fund…
- **[Vitreous Glass Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (VCI.V (CA) · MCAP $31M · Capital Returns · Issue #39): Vitreous Glass Inc. (VCI.V) declared a special cash dividend for common shareholders on October 29, 2026.
- **[Culico Metals Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (CLCO.V (CA) · MCAP $29M · Acquisitions · Issue #39): Culico Metals Inc. (CLCO.V) and Kharrouba Copper Company Inc. signed a definitive merger-of-equals agreement dated September 8, 2026 to create a combined Moroccan copper company with an…
- **[Waraba Gold Limited](https://specialsitsdigest.com/special-situations-digest-39/)** (WBGD.CN (CA) · MCAP $13M · Acquisitions · Issue #39): Waraba Gold Limited (WBGD.CN) signed a binding share sale agreement to acquire an 80% interest in Leo Resources SARL for up to A$5.0 million (~$3.5M) in cash.
- **[GRG Resources Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (GRG.V (CA) · MCAP $13M · Divestitures · Issue #39): GRG Resources agreed to a binding offer to sell its 1.5% NSR royalty on Mogotes Metals' Filo Sur Project to a Mogotes subsidiary for $13.0 million.
- **[Prairie Provident Resources Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (PPR.TO (CA) · MCAP $10M · Insolvency · Issue #39): Prairie Provident Resources (PPR.TO) entered court-supervised restructuring under the Companies' Creditors Arrangement Act (CCAA) on October 27, 2026.
- **[Rapid Dose Therapeutics Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (DOSE.CN (CA) · MCAP $10M · Restructuring · Issue #39): Rapid Dose Therapeutics Corp. (DOSE.CN) agreed to issue up to 5 million common shares to creditors to cancel up to $500,000 of outstanding accounts payable.
- **[Omineca Mining and Metals Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (OMM.V (CA) · MCAP $9M · Other · Issue #39): Omineca Mining and Metals (OMM.V) regained full control of the Wingdam Paleoplacer project after the Licensed Insolvency Trustee for D&L Mining Corp disclaimed the bankrupt party's interest.
- **[CleanTech Vanadium Mining Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (CTV.V (CA) · MCAP $8M · Divestitures · Issue #39): CleanTech is selling the Robinson-Lasher zinc-germanium-gallium deposit to Silver Elephant Mining Corp. under an asset purchase agreement first disclosed June 12, 2026.
- **[Stroud Resources Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (SDR.V (CA) · MCAP $7M · Acquisitions · Issue #39): Stroud Resources Ltd. (SDR.V), Silver Hammer Mining and SilverMark Resources are proceeding with their proposed three-way combination after Stroud and Silver Hammer shareholders approved…
- **[Dune Oil Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (DUNE.CN (CA) · MCAP $6M · Restructuring · Issue #39): Dune Oil Corp. (DUNE.CN) is converting CAD 14.0 million (~$10M) of legacy 12.0% convertible debentures into 93.3 million common shares at C$0.15 per share.
- **[Eureka Metals Corp.](https://specialsitsdigest.com/special-situations-digest-39/)** (ERKA.CN (CA) · MCAP $3M · Rights Offerings · Issue #39): Eureka Metals Corp. (CSE: ERKA) commenced a transferable rights offering to raise gross proceeds of up to $499,134.
- **[Lions Bay Capital Inc.](https://specialsitsdigest.com/special-situations-digest-39/)** (LBI.V (CA) · MCAP $9M (last traded 2026-06) · Busted M&A · Issue #39): Vantage Goldfields said on October 27 that Lions Bay Resources' proposed acquisition of the Barbrook Mine assets had failed because LBR did not provide the DMPR with verifiable proof of the…
- **[Sparta Capital Ltd.](https://specialsitsdigest.com/special-situations-digest-39/)** (SAY.V (CA) · MCAP $3M (last traded 2025-02) · Other · Issue #39): Sparta Capital Ltd. (SCAXF) expects the TSX Venture Exchange to reinstate trading soon following the completion of a regulatory review.
- **[Emera Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (EMA.TO (CA) · MCAP $14.5B · Acquisitions · Issue #38): Emera Inc. (EMA.TO) signed an agreement to acquire 100% of ATCO Ltd. and Canadian Utilities via a statutory arrangement.
- **[Tamarack Valley Energy Ltd.](https://specialsitsdigest.com/special-situations-digest-38/)** (TVE.TO (CA) · MCAP $5.0B · Acquisitions · Issue #38): Tamarack Valley Energy Ltd. (TVE.TO) shareholders vote at a special meeting on November 18, 2026 on a plan of arrangement under section 193 of the Business Corporations Act (Alberta) with…
- **[Saturn Oil & Gas Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (SOIL.TO (CA) · MCAP $1.2B · Acquisitions · Issue #38): Saturn Oil & Gas entered into a definitive arrangement agreement to acquire all issued and outstanding shares of Corex Resources Ltd. for total consideration of C$302 million.
- **[Canaccord Genuity Group Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (CF.TO (CA) · MCAP $983M · Divestitures · Issue #38): Canaccord Genuity Group Inc. (CF.TO) is in talks to sell its Canaccord Wealth U.K. unit to a consortium led by Centerbridge Partners and Mubadala Investment Co. for approximately £1 billion…
- **[HydroGraph Clean Power Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (HG.CN (CA) · MCAP $770M · Other · Issue #38): HydroGraph Clean Power Inc. (HG.CN) extended the deadline for Canadian shareholders to elect exchangeable shares to November 15, 2026, at 5:00 p.m. Vancouver time.
- **[Slate Grocery REIT](https://specialsitsdigest.com/special-situations-digest-38/)** (SGR-UN.TO (CA) · MCAP $740M · Acquisitions · Issue #38): EP/BRX Holdings LLC is acquiring all units of Slate Grocery REIT (SGR-UN.TO) through a plan of arrangement.
- **[Logan Energy Corp](https://specialsitsdigest.com/special-situations-digest-38/)** (LGN.V (CA) · MCAP $641M · Strategic Reviews · Issue #38): Logan Energy Corp (LGN.V) is exploring strategic options including a potential sale, according to a Bloomberg News report.
- **[Telesat Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (TSAT.TO (CA) · MCAP $622M · Restructuring · Issue #38): Telesat has approximately US$1.71-billion in debt coming due Dec. 6, with another US$438-million maturing in 2027.
- **[Belo Sun Mining Corp.](https://specialsitsdigest.com/special-situations-digest-38/)** (BSX.TO (CA) · MCAP $455M · Litigation Outcomes · Issue #38): Belo Sun Mining Corp. (BSX.TO) announced on October 21, 2026 that Brazil's Supreme Court (STF) had temporarily suspended its Volta Grande Gold Project Installation License.
- **[Orca Energy Group Inc.](https://specialsitsdigest.com/special-situations-digest-38/)** (ORC-A.V (CA) · MCAP $282M · Divestitures · Issue #38): Taifa Gas Tanzania Limited and Amber Energy Investment L.L.C-FZ, the proposed purchasers of all outstanding shares of PAE PanAfrican Energy Corporation from Orca Energy Group Inc.…

### Sweden Special Situations (https://specialsitsdigest.com/sweden/)

- **[Humana](https://specialsitsdigest.com/special-situations-digest-39/)** (HUM.ST (SE) · MCAP $343M · Delistings · Issue #39): Ambea is delisting Humana (HUM.ST) from Nasdaq Stockholm after completing a takeover bid for a 98% stake; the offer paid SEK 20 in cash plus 0.305 Ambea shares and one contingent value…
- **[Episurf Medical AB](https://specialsitsdigest.com/special-situations-digest-39/)** (EPIS-B.ST (SE) · MCAP $64M · Divestitures · Issue #39): Oligo Medic Inc. signed a letter of intent to acquire the imaging-based custom implant business of Episurf Medical AB (EPIS-B.ST) on October 26, 2026.
- **[BioInvent International AB](https://specialsitsdigest.com/special-situations-digest-39/)** (BINV.ST (SE) · MCAP $36M · Rights Offerings · Issue #39): BioInvent International AB (BINV.ST) announced on October 28, 2026 a proposed SEK 430 million rights issue, subject to approval at an extraordinary general meeting expected on December 1.
- **[Netel Holding AB](https://specialsitsdigest.com/special-situations-digest-39/)** (NETEL.ST (SE) · MCAP $16M · Acquisitions · Issue #39): Netel Holding AB and Infrea AB received permission from the Swedish Companies Registration Office to proceed with their statutory merger under the Swedish Companies Act.
- **[AcuCort AB](https://specialsitsdigest.com/special-situations-digest-39/)** (ACUC.ST (SE) · MCAP $12M · Rights Offerings · Issue #39): AcuCort AB (publ) (ACUC.ST) is conducting a rights issue to raise SEK 70.3 million (~$7.1M) in gross proceeds before issue costs.
- **[Nanologica AB](https://specialsitsdigest.com/special-situations-digest-39/)** (NICA.ST (SE) · MCAP $5M · Rights Offerings · Issue #39): Nanologica AB (publ) (NICA.ST) will hold an extraordinary general meeting on November 30, 2026, to vote on a related-party guarantee agreement of up to SEK 25.0 million (~$2.5M) to back a…
- **[Spago Nanomedical](https://specialsitsdigest.com/special-situations-digest-39/)** (SPAGO.ST (SE) · MCAP $4M · Delistings · Issue #39): Spago Nanomedical (SPAGO.ST) is applying to delist from the Nasdaq First North Growth Market because the board believes the listing prevents raising capital on acceptable terms for its…
- **[Essity](https://specialsitsdigest.com/special-situations-digest-38/)** (ESSITY-B.ST (SE) · MCAP $18.8B · Strategic Reviews · Issue #38): Essity is comparing separation of Consumer Tissue with retaining it.
- **[Gapwaves AB](https://specialsitsdigest.com/special-situations-digest-38/)** (GAPW-B.ST (SE) · MCAP $33M · Rights Offerings · Issue #38): Gapwaves AB (publ) (GAPW-B.ST) intends to raise SEK 62.5 million (~$6.3M) through a rights issue of units consisting of series B shares and warrants.
- **[Minesto AB](https://specialsitsdigest.com/special-situations-digest-38/)** (MINEST.ST (SE) · MCAP $22M · Rights Offerings · Issue #38): Minesto AB (publ) (MINEST.ST) plans to raise SEK 130 million (~$13M) through a rights issue to fund commercial tidal arrays.
- **[EMB Mission Bound AB](https://specialsitsdigest.com/special-situations-digest-38/)** (EMB.ST (SE) · MCAP $17M · Acquisitions · Issue #38): EMB Mission Bound (EMB.ST) agreed to acquire 51% of Cleverpath Holdings, operator of MegaBet Plus, for EUR 3 million and related NBA bond rights for EUR 1.1 million.
- **[Klaria Pharma Holding AB](https://specialsitsdigest.com/special-situations-digest-38/)** (KLAR.ST (SE) · MCAP $14M · Rights Offerings · Issue #38): Klaria Pharma Holding (KLAR.ST) received approximately SEK 2.2 million (~$222.0K) in subscription commitments without preferential rights in the ongoing rights issue of units of up to…
- **[Orexo AB](https://specialsitsdigest.com/special-situations-digest-38/)** (ORX.ST (SE) · Rights Offerings · Issue #38): Orexo AB (ORX.ST) proposed a ~SEK 250m rights issue to fund priority programs.
- **[AB SKF](https://specialsitsdigest.com/special-situations-digest-37/)** (SKF-B.ST (SE) · MCAP $12.4B · Spin-Offs · Issue #37): AB SKF (SKF-B.ST) plans to distribute all shares in its subsidiary SKF Vertevo AB to existing shareholders through a spin-off. Separately, the second instalment of SKF's dividend, SEK 3.75 per share, went ex-dividend on 14 October 2026.
- **[Intrum](https://specialsitsdigest.com/special-situations-digest-37/)** (INTRUM.ST (SE) · MCAP $903M · Divestitures · Issue #37): Intrum (INTRUM.ST) is exploring the sale of its subsidiary Solvia as part of a strategic review of its Spanish operations supported by Bain & Company.
- **[Humana AB](https://specialsitsdigest.com/special-situations-digest-37/)** (HUM.ST (SE) · MCAP $337M · Tender Offers · Issue #37): Offer SEK 20 + 0.305 Ambea shares + 1 CVR. Ambea AB (publ) is acquiring Humana AB (HUM.ST) for SEK 20 in cash, 0.305 Ambea shares, and one CVR instrument per share. The offer closed on 14 October 2026 with acceptances for 46.6 million shares, representing 97.99% of outstanding.
- **[Flerie AB](https://specialsitsdigest.com/special-situations-digest-37/)** (FLERIE.ST (SE) · MCAP $137M · Acquisitions · Issue #37): Flerie AB (publ) (FLERIE.ST) will absorb Biosergen AB in a stock-for-stock merger where Biosergen shareholders receive one newly issued Flerie ordinary share for every 31 Biosergen shares.
- **[Calviks AB](https://specialsitsdigest.com/special-situations-digest-37/)** (CALVIK.ST (SE) · MCAP $39M · Acquisitions · Issue #37): Calviks AB (publ) (CALVIK.ST) received regulatory approval from the Norwegian Competition Authority to acquire 70 percent of Subshore.no AS for an initial purchase price of NOK 178.5 million (~$19M).
- **[Spotlight Group AB](https://specialsitsdigest.com/special-situations-digest-37/)** (SPGR.ST (SE) · MCAP $19M · Tender Offers · Issue #37): Offer closes Dec 9, 2026. Kriptown SAS extended the acceptance period for its cash tender offer for Spotlight Group AB (SPGR.ST) to 9 December 2026 at 15:00 CET. The extension allows for the completion of ownership and owner management assessments by the Swedish.
- **[Gigasun AB](https://specialsitsdigest.com/special-situations-digest-37/)** (GIGA.ST (SE) · MCAP $14M · Restructuring · Issue #37): Gigasun AB (publ) (GIGA.ST) bondholders subscribed for 16.9 million new shares through set-off of SEK 21.1 million (~$2.1M) nominal bond amount at SEK 1.25 per share.
- **[Goobit Group AB](https://specialsitsdigest.com/special-situations-digest-37/)** (BTCX.ST (SE) · MCAP $6M · Rights Offerings · Issue #37): Goobit Group AB (BTCX) shareholders approved the rights issue at the 15 October 2026 AGM. The issue comprises up to 73,931,510 units at SEK 0.34 each, targeting approximately SEK 25.1 million before costs.
- **[InCoax](https://specialsitsdigest.com/special-situations-digest-37/)** (INCOAX.ST (SE) · MCAP $851.1K · Rights Offerings · Issue #37): InCoax (INCOAX.ST) proposes a rights issue of approximately SEK 45 million at SEK 0.01 per share, subject to EGM approval on 13 November 2026. Each existing share entitles its holder to subscribe for 30 new shares.
- **[Ortelius International AB](https://specialsitsdigest.com/special-situations-digest-37/)** (ORTIN.ST (SE) · MCAP $538.0K · Delistings · Issue #37): Ortelius International AB (publ) (ORTIN.ST) received a Nasdaq Stockholm notice on October 12, 2026 concerning two unpaid invoices. Nasdaq intends to delist its shares from First North Growth Market unless payment is made by November 2.
- **[Hexagon AB](https://specialsitsdigest.com/special-situations-digest-36/)** (HEXA-B.ST (SE) · MCAP $28.1B · Acquisitions · Issue #36): Hexagon AB (HEXA-B.ST) signed an agreement to acquire Rocscience at an enterprise value of $535 million on a cash-free, debt-free basis. The transaction is subject to customary conditions and is expected to close in the fourth quarter of.
- **[NCC AB](https://specialsitsdigest.com/special-situations-digest-36/)** (NCC-A.ST (SE) · MCAP $1.7B · Divestitures · Issue #36): NCC AB (NCC-A.ST) agreed on October 7, 2026 to divest NCC Industry to Heidelberg Materials and CRH for an enterprise value of SEK8.2 billion. Heidelberg Materials will acquire the Swedish and Norwegian operations, while CRH will acquire.
- **[Bahnhof AB](https://specialsitsdigest.com/special-situations-digest-36/)** (BAHN-B.ST (SE) · MCAP $646M · Acquisitions · Issue #36): Offer 62 kronor per aktie. Telenor cleared a regulatory hurdle for its acquisition of Bahnhof AB (BAHN-B.ST) after the Norwegian Competition Authority decided not to proceed with a closer review.
- **[Eniro Group AB](https://specialsitsdigest.com/special-situations-digest-36/)** (ENRO.ST (SE) · MCAP $50M · Capital Returns · Issue #36): Eniro Group AB (ENRO.ST) proposed a special dividend of SEK2.50 per share, totaling approximately SEK36 million. The board adopted a policy to distribute 60% of annual group operating cash flow unless investments or the group's financial.
- **[Sleep Cycle AB](https://specialsitsdigest.com/special-situations-digest-36/)** (SLEEP.ST (SE) · MCAP $49M · Acquisitions · Issue #36): Offer SEK 24.50 · premium 22.6%. Sleep Cycle (SLEEP.ST) called an EGM for 11 November 2026 to approve acquiring Audiowell AB for SEK2.255 billion through 92,042,212 new shares at SEK24.50 each, a 22.62% premium to the 8 October closing price.
- **[Krona Public Real Estate](https://specialsitsdigest.com/special-situations-digest-36/)** (KRONA.ST (SE) · MCAP $49M · Going-Private · Issue #36): Krona BidCo acquired additional shares of Krona Public Real Estate (KRONA.ST), taking ownership above 90% of outstanding shares and votes, and invoked compulsory acquisition of the remaining shares.
- **[SciBase Holding AB](https://specialsitsdigest.com/special-situations-digest-36/)** (SCIB.ST (SE) · MCAP $20M · Rights Offerings · Issue #36): SciBase Holding AB (publ) (SCIB.ST) registered a rights issue for SEK 57.5 million (~$5.8M) on October 8, 2026, issuing 3.8 million new shares. The last day of trading for paid subscribed shares (BTA) on Nasdaq First North Growth Market is.
- **[ExpreS2ion Biotech Holding AB](https://specialsitsdigest.com/special-situations-digest-36/)** (EXPRS2.ST (SE) · MCAP $3M · Rights Offerings · Issue #36): ExpreS2ion Biotech Holding AB (EXPRS2.ST) issued 11.9 million new shares to Vator Securities AB at SEK 1.60 per share in a directed share issue. The company also issued 3.6 million shares to Vator Securities as guarantee compensation for.
- **[Realfiction Holding AB](https://specialsitsdigest.com/special-situations-digest-36/)** (REALFI.ST (SE) · MCAP $1M · Rights Offerings · Issue #36): Realfiction Holding AB (REALFI.ST) is conducting a rights issue of units following the October 9, 2026 publication of its Information Memorandum.
- **[AcuCort](https://specialsitsdigest.com/special-situations-digest-36/)** (ACUC.ST (SE) · Rights Offerings · Issue #36): AcuCort resolved on a rights issue of up to 78,148,177 units to raise approximately SEK 70.3 million before costs, subject to an extraordinary general meeting on November 5, 2026.
- **[Aktiebolaget SKF](https://specialsitsdigest.com/special-situations-digest-35/)** (SKF-B.ST (SE) · MCAP $12.1B · Spin-Offs · Issue #35): SKF (SKF) will distribute all shares of its wholly owned subsidiary SKF Vertevo AB to shareholders. Five Series A shares in SKF entitle the holder to one Series A share in SKF Vertevo, and five Series B shares in SKF entitle the holder to.
- **[PPI Public Property Invest AB](https://specialsitsdigest.com/special-situations-digest-35/)** (PUBLI.ST (SE) · MCAP $1.5B · Acquisitions · Issue #35): PPI subsidiaries entered into share purchase agreements to acquire SBB Tuna Äng 1 AB and SBB Nöthagen 5 AB from subsidiaries of Samhällsbyggnadsbolaget i Norden AB (publ). Agreed property value totals SEK 1.4 billion (~$141M).
- **[Logistea](https://specialsitsdigest.com/special-situations-digest-35/)** (LOGI-B.ST (SE) · MCAP $622M · Acquisitions · Issue #35): Logistea has entered into an agreement to acquire a property portfolio in Jutland, Denmark. The properties are fully leased to Velux with a remaining lease term of about 11 years per asset.
- **[Samhällsbyggnadsbolaget i Norden AB](https://specialsitsdigest.com/special-situations-digest-35/)** (SBB-B.ST (SE) · MCAP $536M · Capital Returns · Issue #35): Samhällsbyggnadsbolaget i Norden AB (SBB-B.ST) set an EGM for Friday 23 October 2026 at 10:00 CEST in Stockholm. Cash consideration for D shares is SEK 7.94 per share. D share holders may alternatively switch to B shares via set-off issue.
- **[Arlandastad Group AB](https://specialsitsdigest.com/special-situations-digest-35/)** (AGROUP.ST (SE) · MCAP $224M · Strategic Reviews · Issue #35): Arlandastad (AGROUP.ST) is open to selling Stockholm-Skavsta Airport following a proposal by investigator Anders Flanking to nationalize the asset.
- **[W5 Solutions AB](https://specialsitsdigest.com/special-situations-digest-35/)** (W5.ST (SE) · MCAP $55M · Rights Offerings · Issue #35): W5 Solutions intends a directed share issue of approximately SEK 150 million (~$15M) with deviation from shareholders' preferential rights. DNB Carnegie Investment Bank AB is Sole Global Coordinator and Bookrunner.
- **[Preservium Property AB](https://specialsitsdigest.com/special-situations-digest-35/)** (PRESRV.ST (SE) · MCAP $26M · Tender Offers · Issue #35): Offer SEK 60.05 · premium 61.4%. PPI Public Property Invest AB increased its public tender offer for Preservium Property AB (PRESRV.ST). The Increased Offer values each Preservium share at SEK 60.05 at PPI's current trading price and about SEK 77.15 on a net-asset-value.